Decree on Ruble-Based Payments for Russians Abroad

Russia has unveiled a new policy requiring pensions and other social payments to citizens living outside the country to be issued exclusively in rubles or routed through bank accounts held in Russian banks. The policy, approved by the government, aims to ensure that benefits and obligatory social insurance payments remain accessible to retirees and workers abroad even amid international tensions. Under the decree, payments can be credited directly to the recipient’s Russian bank account or to foreign accounts opened in Russian banks, allowing the transfers to occur in the currency of the Russian Federation when the recipient chooses or when instructed by the relevant authorities. This approach is designed to maintain reliable disbursement channels for those who reside overseas while aligning with the broader monetary framework of the Russian state. Source: TASS.