The easiest and legal way to move cash abroad is to make sure that its equivalent does not exceed $ 10,000. Rubles exceeding this amount can be legally exported, but in this case, the origin of the cash and money will need to be declared. the head of the OECD IPEI Presidential Academy Center Antonina Levashenko told socialbites.ca.
According to him, the $10,000 limit is set only for cash; the regulation does not apply to funds in bank accounts or, for example, cryptocurrencies.
“In fact, an amount exceeding the permitted limit can be taken from a storage medium in the form of cryptocurrency and converted into cash abroad,” Levashenko said.
The restriction on foreign exchange exports from Russia exceeding the equivalent of $10,000 will be effective from March 2, 2022. The amount is calculated based on the Central Bank exchange rate on the date of export.
Earlier, Natalya Demidova, specialist at the Department of Payment Systems and Settlements of the Main Directorate of the Central Federal District of the Bank of Russia warned Russians say that if they transfer money to an unfriendly country, they should be prepared for the money to be “stuck” for an indefinite period.
Former Central Bank Governor Elvira Nabiullina appreciated Proposal to limit ruble transfers abroad.
Source: Gazeta
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