Vladimir Putin Limits Cash Exports to Neighboring Countries
Vladimir Putin signed a decree limiting individual cash exports from Russia to 1 million rubles for several neighboring countries, including Azerbaijan, Tajikistan, and Uzbekistan.
President Vladimir Putin signed a decree on Tuesday immediately restricting the amount of cash individuals can export from Russia to several neighboring countries. The new limit is 1 million rubles, estimated between $11,900 and $12,300, which represents a significant reduction from the previous limit of $100,000.
The restrictions apply to Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan. While the previous $100,000 limit did not apply to Azerbaijan, Tajikistan, and Uzbekistan, the new decree expands the scope of cash export limits to include these three nations and member states of the Eurasian Economic Union.
Legal entities and individual entrepreneurs are completely prohibited from exporting any amount of cash to these destinations. Violators face the total confiscation of funds exceeding the limit for individuals, or the confiscation of the entire amount for businesses.
Exceptions are granted for diplomatic missions, international transport operations, and travelers using government-designated international airports who provide certified bank statements confirming the funds were withdrawn from their own accounts. The Federal Government of Russia and the Central Bank of the Russian Federation have three months to establish the necessary recording and accounting procedures for these currency outflows.
