The RF continues imposing counter-measures

New measures to combat economic effects of Western sanctions where introduced by the RF on March 10th 2022. On this day, the Central Bank of Russia issued instructions regarding limitations on cash withdrawals for individual entrepreneurs and legal entities till September 10th 2022. Under these instructions, RF residents that are individual entrepreneurs or legal entities are permitted to withdrawal USD, EUR, pounds sterling and Japanese yen in cash in an amount that doesn’t exceed 5,000 USD and only for the payment of expenses on business trips abroad. At the same time, a prohibition was introduced restricting individual entrepreneurs and legal entities that are not residents of the RF from withdrawing cash in USD, EUR, pounds sterling and Japanese yen. More information on this new restriction imposed on March 10th 2022 can be found here (in Russian).

In addition, on this day, the government of the RF generated a list of goods that became prohibited for exportation from the RF until the end of this year. The list states several types of goods including vehicles, technological machinery, electrical equipment, technological equipment, telecommunications, medical equipment and others, adding up to more than 200 products. More information on this new measure imposed by the RF on March 10th 2022 can be found here (in Russian).