DFX Intelligence
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Global Financial Service Disruptions
Bank of Russia (FX cash withdrawal limit)
central bank · RU · Europe · Central Bank of the Russian Federation
Regulatory or legalStatus: unknownTier 1Severity 5 of 5Evidence confidence: highAnalyst-verified
On 9 March 2022 the Bank of Russia capped cash withdrawals from foreign currency accounts at USD 10,000 for six months and banned sale of cash FX to individuals. The restriction was later extended, with Interfax reporting an extension in March 2023.
- First disruption
- Mar 9
- First public signal
- unknown
- Acknowledged
- Mar 9
- Restored
- not yet
- Duration
- not established
- DFX first recorded
- Nov 5 14:58 UTC
What was restricted
withdrawalsScope: country wide
Individuals could withdraw at most USD 10,000 cash from foreign currency accounts (paid in dollars), with the remainder only in rubles at market rate; banks barred from selling cash FX to citizens. Initially to 9 Sep 2022; extended into 2023.
Cause, kept in separate layers
- What the institution said
- Temporary measure in response to sanctions; about 90% of FX accounts said to be under USD 10,000
- DFX classification
- Regulatory or legal (cyber: unconfirmed)
Evidence
- Interfax · 2022-03-09
- Law360 · 2022-03
- Portfolio.hu · 2022-03-09
- Interfax · 2023-03