Putin imposes strict cash-out limits for Russia's neighboring states
President Vladimir Putin signed an order capping cash taken out of Russia at 1 million rubles for individuals traveling to seven neighboring countries, while banning businesses from exporting any cash.
On Tuesday, President Vladimir Putin enacted an executive order that sharply tightens cash-out controls to Russia's neighbours. Individuals may now carry no more than 1 million rubles (about $11,900) in cash to Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan, a drop from the $100,000 ceiling set in March. The measure also bars all businesses from exporting any cash, with any breach resulting in the full amount being seized.
Penalties for individuals include confiscation of any sum exceeding the limit. The decree provides limited exemptions for passengers using government-designated international airports, official diplomatic missions and persons presenting bank authorisation statements. The restrictions are effective immediately. The move follows earlier limits on foreign-currency cash exports introduced after Russia's 2022 invasion of Ukraine.
Why it matters
The rule curtails cross-border cash flows, affecting individuals and firms that rely on physical rubles for trade and travel.
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