Page 81 - RusRPTOct23

Under the rules, Russian citizens and non-resident individuals from friendly nations will continue to send no more than $1mn, or an equivalent amount in other foreign currencies, each month to foreign bank accounts.
The limits on transfers conducted through money transfer systems will also persist, with a total transfer cap of $10,000, or an equivalent amount in other foreign currencies, per month.
The transfer amounts are calculated based on the official exchange rate of foreign currencies against the ruble as of the date the bank receives the transaction order.
Non-resident individuals working in Russia, whether they are from friendly or unfriendly countries, are permitted to transfer their salaries abroad, if get approval from the Bank of Russia.
However, the ban on money transfers remains in place for non-resident individuals from unfriendly countries who are not employed in Russia, as well as for legal entities from such nations. This restriction does not apply to foreign companies controlled by Russian legal entities or individuals.
Banks from unfriendly states can execute transfers in rubles using correspondent accounts established with Russian credit institutions, provided that both the payer and the payee maintain accounts with foreign banks.
81 RUSSIA Country Report October 2023 www.intellinews.com