Russian citizens now allowed to transfer unlimited money to foreign accounts in rubles

The Bank of Russia (Central Bank) has announced the lifting of restrictions on ruble transfers for local residents to accounts in foreign banks, Report informs via TASS.

Russian citizens can convert their funds in rubles into foreign currency and transfer them to their accounts in foreign banks or to someone else's foreign account.

In early March, the Bank of Russia limited the amount of individuals' bank transfers abroad to $5,000 per month to ensure financial stability and then raised the limit to $10,000.