News > Russia Bans All Residents from Transferring Money Abroad

Russia Bans All Residents from Transferring Money Abroad

Topologypro | 01/03/2022 09:07 AM | Click to read full article

Russian President Vladimir Putin on Monday banned residents from transferring money abroad as part of measures to prop up the ruble which has plummeted in value as a result of Western sanctions over Russia's invasion of Ukraine. 

It covers both companies and individuals, barring anybody from sending cash to a foreign account, and comes as the Russian economy was on the brink of an economic crisis.