The authorities allowed the Russians to transfer currency to foreign accounts

Foreign currency was allowed to be transferred both to organizations and citizens. At the same time, individuals will be able to make currency transfers to accounts that were previously reported to the Russian tax authorities

The government has allowed Russians to transfer currency to their foreign bank accounts, the Finance Ministry said in a statement.

“It is allowed to transfer to the accounts of citizens in foreign banks the currency received from non-residents in the form of wages, rent, coupons and dividends on securities and other interest payments. Citizens will be able to transfer funds in foreign currency from their foreign accounts opened in foreign banks before March 1, 2022, to their other foreign accounts, information about which is disclosed to the Russian tax authorities,” the message says.

The Ministry of Finance announced the freezing of $ 300 billion of gold and foreign exchange reserves due to sanctions Economics

This decision, according to the ministry, was taken by a subcommittee of the government commission for the control of foreign investment in order to "ensure the financial stability" of the country.

There are also exemptions for organizations. They are also allowed to transfer funds to foreign accounts, but the volume of transactions should not exceed the amount of such transfers for the previous year.