Nabiullina appealed not to wait for the lifting of restrictions on cash withdrawals

The Central Bank of the Russian Federation does not plan to lift restrictions on the withdrawal of cash currency, Elvira Nabiullina, the head of the regulator, said on Friday.

Introduced in March 2022 and then extended many times, the restrictions in their current form are in force until September 9, Nabiullina reminded at a press conference after the meeting of the Central Bank’s Board of Directors.

“We have not yet made a decision, but at the moment we can say that there are no grounds for lifting these restrictions,” the head of the Central Bank of RIA Novosti is quoted as saying. Nabiullina reminded that there are sanctions for importing foreign cash into Russia: the US and the EU banned the delivery of their banknotes in early March 2022.

In response, the Central Bank allowed currency withdrawals only from accounts opened before March 9, 2022, and set a maximum amount of USD 10,000 or the euro equivalent.

Banks can currently sell dollars and euros in cash to individuals only in the currency received by their cash registers after April 9, 2022.