Vladimir Putin signed a presidential decree on Tuesday, October 29, limiting the export of rubles in cash to one million rubles, equivalent to about $12,000.

According to the state document, citizens are prohibited from exporting more than one million rubles to the countries of the Eurasian Economic Union (EAEU) – Armenia, Belarus, Kazakhstan, and Kyrgyzstan – as well as to Azerbaijan, Tajikistan, and Uzbekistan.

The prohibition applies regardless of the amount to legal entities and individual entrepreneurs. The penalties for violating the measure include “confiscation of any amount exceeding one million rubles from an individual and, in the case of legal entities and sole proprietors, confiscation of all exported cash.”

Exceptions apply to Russian citizens exporting cash through government-designated international airports who can justify the withdrawal of the total sum with bank statements. Furthermore, “exceptions are also established for legal entities engaged in international transport and those providing support to Russian diplomatic and consular offices.”

M.Pino

Source: swissinfo

(Reference image source: Vardan Papikyan on Unsplash)

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