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Russia Tightens Cash Export Rules for Individuals, Businesses
(MENAFN) Russian President Vladimir Putin has introduced new restrictions limiting the amount of cash that can be taken out of the country, according to a decree issued Tuesday.
Under the new rules, individuals cannot carry more than 1 million rubles ($12,300) in cash to members of the Eurasian Economic Union (EAEU), Azerbaijan, Tajikistan or Uzbekistan.
The restrictions also cover companies and individual entrepreneurs regardless of how much cash they intend to take abroad, according to the decree published on Russia’s official legal information portal.
Exceptions apply to cash transported through airports specifically designated by the Russian government, as well as cases where bank documents show that the money was withdrawn from an account held by the person exporting it.
Previously, individuals were allowed to take the equivalent of up to $100,000 in cash out of Russia, while Azerbaijan, Tajikistan and Uzbekistan were not covered by the restrictions.
Under the new rules, individuals cannot carry more than 1 million rubles ($12,300) in cash to members of the Eurasian Economic Union (EAEU), Azerbaijan, Tajikistan or Uzbekistan.
The restrictions also cover companies and individual entrepreneurs regardless of how much cash they intend to take abroad, according to the decree published on Russia’s official legal information portal.
Exceptions apply to cash transported through airports specifically designated by the Russian government, as well as cases where bank documents show that the money was withdrawn from an account held by the person exporting it.
Previously, individuals were allowed to take the equivalent of up to $100,000 in cash out of Russia, while Azerbaijan, Tajikistan and Uzbekistan were not covered by the restrictions.
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