Central Bank of the Russian Federation

11/21/2022 | Press release | Distributed by Public on 11/22/2022 04:45

VEB.RF and authorised banks may take out abroad foreign cash of over 10,000 US dollars

According to this decision, authorised banks and the State Corporation VEB.RF are allowed to take out abroad banknotes that were withdrawn from circulation or announced for withdrawal for their exchange. Provided that they bring back the same amount of foreign cash to Russia, they are only required to notify the Bank of Russia of the planned operation.

If they do not intend to bring in the same amount of foreign cash later on and if they are going to take out worn-out banknotes, they will need a permit from the Bank of Russia.

Besides, authorised banks and VEB.RF may obtain a permit to take out foreign cash in other cases not related to external trade or loan repayments and issue, but only if they bring in the same amount of foreign cash to Russia.

Other legal entities or individuals, including within external trade and for loan issue or repayment purposes, are not allowed to take out foreign cash abroad. The sanctions limit the inflow of foreign cash into the country.

The Bank of Russia is entitled to grant permits to take out foreign cash in the amount of over 10,000 US dollars abroad pursuant to Executive Order of the Russian President No. 737, dated 15 October 2022.