The Central Bank of the Russian Federation (CBR) has extended restrictions on cross-border money transfers for non-residents from so-called "unfriendly" countries.

These measures will remain in effect until December 7, 2026, and apply to both individuals and legal entities. Specifically, non-resident individuals from unfriendly countries working in the Russian Federation may transfer amounts abroad up to the amount of their salary. Non-working non-residents and legal entities from such countries remain prohibited from making transfers abroad.

However, there are important exceptions. The restrictions do not apply to foreign investors investing in the Russian financial market when transferring funds from "In" accounts abroad.

Furthermore, banks from unfriendly countries are permitted to make ruble transfers through correspondent accounts in Russian banks if the payer and recipient accounts are held in foreign banks.

Conclusion:

Lawyers advising on foreign economic activity and currency regulation must take into account the extension of these restrictions. It is important to inform clients of the current rules and exceptions, especially when planning financial transactions involving non-residents from unfriendly countries. Particular attention should be paid to the legal status of "In" accounts and the possibilities of using ruble correspondent accounts for cross-border settlements.