Russia extends foreign cash withdrawal limits

Russia's Central Bank on Friday announced an extension of limits on foreign cash withdrawals, setting a cap of $10,000 until March 9, 2025.

Under the extended limits, individuals with foreign currency accounts will be allowed to withdraw up to $10,000 in U.S. dollars or euros, with any remaining funds converted into rubles, the Bank said in a statement, News.Az reports.

The restrictions, which were previously set to end on September 9, have now been prolonged, according to the statement.

The Central Bank initially imposed these restrictions in March 2022 following the suspension of cash transfers in dollars and euros by the U.S. and EU. This move came after Russian account holders withdrew approximately $9 billion in February 2022.

News.Az