Russia’s Central Bank announced Friday that it will extend limits on foreign cash withdrawals, capping the amount at $10,000 until next spring.
The Central Bank first introduced the restrictions in March 2022 after the U.S. and EU halted cash transfers of dollars and euros to Russia. At the same time, private customers withdrew some $9 billion from Russian accounts in February 2022.
In its latest statement, Russia’s Central Bank said that those with existing foreign currency accounts will be able to withdraw only up to $10,000 in U.S. dollars or euros until March 9, 2025. Any remaining funds will be available only in rubles.
The restrictions were originally set to expire on Sept. 9.
Since the export ban on cash began in March 2022, Russia has imported an estimated $2.27 billion in dollars and euros from countries that have not sanctioned Moscow over its full-scale invasion of Ukraine.
Investigative media reported earlier this week that over $29 million in foreign banknotes were imported from Rwanda in 2024.
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