“The decree does not establish a ban on residents (individuals and legal entities, individual entrepreneurs, individuals engaged in private practice, “self-employed” persons) making payments in favor of non-residents both in the currency of the Russian Federation and in foreign currency for the specified purposes,” it said. in the explanations published on the website of the regulator.
The Central Bank recalled that, in accordance with the presidential decree, from March 1, Russians cannot transfer funds in foreign currency in favor of non-residents, both under new and existing loan agreements. The latter are subject to immediate termination, the regulator explained.
On February 28, Putin signed a decree according to which, from the beginning of March, Russian residents cannot be credited with foreign currency to their accounts and deposits in foreign banks. In addition, it is prohibited to transfer funds without opening an account using foreign electronic service providers.
In addition, since March 2, it is forbidden to export foreign currency from Russia in cash in the amount of $10,000 or more. Previously, this could be done by declaring the funds at customs.
On February 26, the EU banned citizens and companies from Russia from keeping more than 100,000 euros on deposits in European banks. A ban was also introduced on the sale of securities in euros. European depositories cannot provide Russian citizens and organizations with services for the sale of securities issued after April 12 of this year.