As the Central Bank of Russia announced today, during the period of validity of the temporary procedure for cash transactions, legal entities - residents and individual entrepreneurs - residents can receive cash in US dollars, Japanese yens, pounds sterling and euros up to 5 thousand US dollars, and only for payment foreign travel expenses. In special cases, at the request of the bank to the regulator, this amount can be increased.
All other currencies can be received by resident companies and individual entrepreneurs in cash on the grounds provided for by law, without restrictions at the market rate on the day of issue.
Non-resident legal entities and non-resident individual entrepreneurs will not be able to receive cash in US dollars, Japanese yen, pounds sterling and euros during the period of validity of the temporary procedure for transactions with cash. Non-residents will be able to receive other currencies from their accounts without restrictions at the market rate on the day of issue.
The rest of the terms of deposits and accounts in US dollars, euros, pounds sterling and Japanese yen opened by legal entities and individual entrepreneurs as of March 10, 2022 remain unchanged.
The validity of the new restrictions is six months, or until September 10, 2022, follows from the document. During this period, corporate clients of banks and entrepreneurs will be able to receive foreign currency in cash from their accounts under the following conditions.
If companies or entrepreneurs in Russia require an amount of more than 5 thousand US dollars, then the operation will need to be coordinated with the Central Bank of Russia - it is necessary to send an application with justification and supporting documents.
The issuance of cash dollars, euros, pounds sterling and yen to all Russian customers must be carried out only through the cash desks of banks.
All foreign companies and non-resident entrepreneurs will not be able to withdraw cash in dollars, euros, pounds sterling or yen from accounts and deposits until September 10, 2022.