Putin Imposes Strict New Limits on Cash, Gold Exports

(MENAFN) Russian President Vladimir Putin signed two sweeping decrees Wednesday imposing strict new limits on cash and gold exports, escalating the Kremlin's crackdown on capital flight and the country's sprawling shadow economy.

The first decree, set to take effect April 1, bars individuals from carrying ruble-denominated cash worth more than $100,000 — valued at the Bank of Russia's official exchange rate — across Russia's border into the Eurasian Economic Union (EAEU), with limited exceptions carved out for specific circumstances.

The second measure, effective May 1, prohibits the export of gold bars exceeding 100 grams from Russian territory. Commercial banks are exempt from the restriction, though most other entities will be bound by its terms.

Both decrees were formally published on the official government portal.

The moves come despite state-led efforts to accelerate digital payments adoption. Cash demand has surged rather than subsided, with net outflows from the banking system hitting an estimated $13.2 billion in January 2026 alone — driven largely by businesses retreating into informal channels to sidestep rising value-added tax (VAT) and other fiscal burdens.

Russian Deputy Finance Minister Alexei Moiseev flagged gold as an increasingly preferred instrument in illicit financial flows, warning it was being used as a stand-in for foreign currency in underground transactions, feeding both capital flight and money-laundering networks.

The gold decree's language is direct. "Effective May 1, 2026, a ban is established on the export from the Russian Federation by individuals, legal entities and individual entrepreneurs of refined gold in bars with a total weight exceeding 100 grams," the document states.

Exceptions to the cash restrictions apply exclusively at designated international airports, and only when exporters can produce bank statements or equivalent documentation confirming the funds were withdrawn from a registered bank account, as stipulated by government guidelines.

For gold, exemptions are narrowly defined. Exports may proceed through air border crossings at Moscow's Vnukovo, Sheremetyevo, and Domodedovo airports, as well as Knevichi airport, provided exporters hold a valid permit from the Federal Assay Chamber. A separate exemption permits legal entities and individual entrepreneurs to export gold bars to countries outside the EAEU.

MENAFN26032026000045017169ID1110908563