Putin authorizes the Central Bank to permit foreign currency exports

The Central Bank of Russia is now allowed to authorize the export of foreign currency in amounts greater than $10,000, according to a decree signed by President Putin.

The document states that permits for such exports will be issued “in cases and in the manner established by the Board of Directors of the Central Bank of the Russian Federation.”

The decree also gives the Bank of Russia the right to clarify issues related to its implementation.

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Within a few days of the Russian invasion of Ukraine, Russian authorities introduced strict measures to regulate currency. The sale of currency to individuals was prohibited, and bank withdrawals and transfers abroad were restricted. In March, Putin banned the export of cash worth more than $10,000. Restrictions have gradually loosened, but authorities do not plan to completely abolish them yet.