Putin limits ruble cash exports to specific nations

Russian President Vladimir Putin has issued a decree significantly restricting the export of Russian currency (the ruble). Under this regulation, individuals are permitted to spend no more than one million rubles (approximately $11,850) in cash when transferring funds from Russia to member countries of the Eurasian Economic Union, Azerbaijan, Tajikistan, and Uzbekistan. There are specific exceptions, such as withdrawals made at temporary international airports for diplomatic purposes. The restrictions also apply to the export of refined gold in the form of bars. Any amounts exceeding the authorized limit upon violation are subject to confiscation. The decree also covers companies and businesspeople, tasking the government and the Central Bank with establishing mechanisms to monitor and record currency export transactions within three months. This measure is part of Russia’s efforts to curb capital outflows and mitigate the impact of sanctions on its economy.

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