The Bank of Russia has eased restrictions on some transfers of funds of individuals abroad, but retained the ban on transfers of funds for non-residents from countries that support sanctions.

According to the regulator, for the next six months new thresholds will be set for the amount of funds transferred abroad. During a calendar month individuals will be able to transfer outside Russia from their account in a Russian bank to their own account or to another individual abroad no more than $10 thousand (or the equivalent of this amount in another currency). No more than $5 thousand can be transferred per month through companies providing money transfer services without opening an account.

“The norms apply to residents and non-residents from countries that do not support the sanctions. The same opportunity was given to non-residents from all other states working in Russia under labor or civil law contracts”, – notes the Central Bank.

At the same time, transfers abroad from bank accounts of non-resident individuals from countries supporting the sanctions and not working in Russia, as well as legal entities from these countries are suspended for six months. Transfers abroad of funds of non-residents from countries supporting the sanctions from the accounts of Russian brokers are also suspended for six months.

Transfer amounts are calculated at the official exchange rate of foreign currencies to the ruble set by the Bank of Russia on the date of the transfer order, the regulator explained.