Russia Slashes Cash Export Limit From $100,000 to $12,300 for Four Countries

Russian President Vladimir Putin has introduced new restrictions on the amount of cash individuals can take out of the country to the Eurasian Economic Union (EAEU), Azerbaijan, Tajikistan and Uzbekistan. Under a decree published Tuesday, individuals will be barred from taking more than 1 million rubles ($12,300) in cash out of Russia to those destinations. The measure also applies to legal entities and individual entrepreneurs, regardless of the amount of cash they seek to export.

A Sharp Drop From the Previous Limit

The previous limit for individuals was the equivalent of $100,000, and the restrictions did not previously cover Azerbaijan, Tajikistan, or Uzbekistan. The new measure substantially lowers the individual cash-export threshold and extends the restriction to these three additional countries.

Exceptions Built Into the Decree

The new rules include exceptions for cash taken out through airports designated by the Russian government. The restriction also does not apply where a bank statement confirms the money was withdrawn from an account belonging to the person exporting the cash, according to the decree published on Russia's official legal information portal. The EAEU comprises Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan.