ISTANBUL

The Russian Central Bank announced Friday that restrictions on money transfers abroad will be lifted for Russians and citizens of friendly countries as of Dec. 8.

"Given the stable situation on the foreign exchange market, from December 8, 2025, the Bank of Russia will lift previously established limits on foreign currency transfers abroad for Russian citizens and non-resident individuals from friendly countries," the bank said in a statement.

It said that individuals working in Russia who are non-residents from unfriendly countries can transfer funds abroad in the amount of their salaries.

Also, a ban on transferring funds abroad for individuals and non-residents from unfriendly countries not employed in Russia, as well as for legal entities from such countries, will remain in place. "This restriction does not apply to foreign companies controlled by Russian legal entities or individuals."

"Banks from unfriendly countries can transfer funds in rubles using correspondent accounts opened in Russian credit institutions if the payer and recipient accounts are opened in foreign banks," it added.

Following sanctions imposed by Western countries, the Central Bank of Russia imposed restrictions on money transfers abroad in March 2022. Citizens were unable to transfer more than $10,000 in foreign currency per month.