The Bank of Russia announced on Jun. 1 that it will keep existing restrictions on cross-border funds transfers for individuals from countries designated as unfriendly, covering the period from June 8 through December 7, 2026.
According to the announcement, non-resident individuals from unfriendly countries who are employed in Russia may continue to make cross-border transfers up to the amount of their wages. However, a ban remains in place for non-resident individuals from these states who are not working in Russia and for legal entities originating from such countries. The restriction does not apply to foreign companies controlled by Russian legal entities or individuals.
The Bank of Russia also clarified that these measures do not affect transfers made by foreign investors in the Russian financial market when moving funds abroad from In-type accounts. Additionally, banks based in unfriendly countries may still transfer rubles using correspondent accounts opened with Russian credit institutions if both payers and payees hold accounts with foreign banks.
According to the official website, the Bank of Russia serves as the sole issuer of the Russian ruble and manages national cash circulation. The institution operates as a legally independent entity with federal property and exercises monetary authority separate from other government bodies. As part of its responsibilities, it aims to promote financial and price stability while fostering a competitive financial market, according to the official website.
