Central bank of Russia has banned businesses from withdrawing more than $ 5,000 US

Russia's central bank has introduced new currency restrictions. From March 10 to September 10 this year, business representatives will be prohibited from withdrawing $ 5,000 or the equivalent in euros, Japanese yen and pounds.

During this phase, local companies and sole proprietors can receive US $, Japanese Yen, Pound Sterling and Euros in cash equivalent to US $ 5,000,000 and only to cover expenses during business trips abroad (there are restrictions on other currency units). In special cases, this amount can be boosted at the request of the bank to the regulator.

Foreign companies and non-resident entrepreneurs will not be able to withdraw dollars, euros, Japanese yen or pound sterling in cash from accounts and deposits until September 10.

Non-residents can withdraw other currencies from their accounts at the market rate on the relevant day without restrictions.