The Central Bank of Russia has increased the quarterly cap on outward transfers by Russians from $50,000 to $150,000.
From June 8, individuals in Russia may move up to 150,000 USD, or its equivalent in another currency, from a domestic bank account to an overseas account or to another person within a single calendar month. Non-residents from friendly countries are allowed the same level of transfers to foreign accounts.
The previous limit stood at $50,000. These numbers come from the Central Bank’s official Telegram channel.
Observers note that the regulator has been gradually softening transfer limits. Earlier, international transfers faced a $5,000 cap in March, which was raised to $10,000 in April, and then to $50,000 in May.
Why the limit was increased
The central bank has repeatedly signaled that easing controls helps stabilize the exchange rate. The ruble has been somewhat overvalued since March, which weighs on the federal budget that earns revenue from exports priced in rubles. While the ruble’s decline against the dollar and euro has paused, the currencies remain below the budgeted rate of 72 rubles per dollar. This context was reported by Gazeta.Ru and summarized by market analysts. The central bank also notes that it is not removing all major restrictions at once, such as asset freezes for non-residents or prohibitions on transfers by certain legal entities.
Valery Yemelyanov, a stockbroker at BCW World of Investments, explained that the easing reflects a measured approach rather than a sudden liberalization.
Maxim Markov, an associate at Plekhanov, believes the signaling of looser restrictions indicates that Russia may be ready to scale back broad prohibitions and restrictions observed internationally.
Not everyone will feel the benefit
Pavel Sigal, the first vice president of Opora Rossii, characterized the move as widening the comfort zone for Russians rather than targeting a specific group. Still, many may not personally gain from the change.
Yemelyanov notes that the typical foreign transfer by Russians is modest, averaging around $200 or its currency equivalent.
He adds that even in scenarios with significant wealth, transfers of this size are uncommon. The $150,000 cap represents a large transfer relative to typical volumes and would account for only a small share of total transfers from Russia.
The reform is expected to affect a narrow segment of citizens who possess the $150,000 level and wish to access capital more promptly than waiting through multi-month withdrawal processes.
Real estate purchases abroad may be among the uses, though the amount is modest for housing purchases overseas. It is also worth noting that non-resident Russians face substantial barriers to acquiring properties in Europe and North America, though opportunities might open for purchases from Asian suppliers or markets in Turkey and Thailand.
Natalia Bogomolova, a banking ratings analyst at the National Rating Agency, agrees that some Russians planning to buy or already arranging housing abroad could seek a higher limit. She also mentions that those who pay for expensive medical care, international travel, or ongoing living costs while living abroad could find the raised cap advantageous. The key group, she says, includes temporary residents with income sourced in Russia whose monthly expenses would benefit from a higher ceiling.