Russian President Vladimir Putin has signed a decree banning the export of cash rubles from Russia to the countries of the Eurasian Economic Union when the amount exceeds 1 million rubles. The restriction also applies to Azerbaijan, Tajikistan and Uzbekistan. Besides Russia, the EAEU includes Belarus, Kazakhstan, Armenia and Kyrgyzstan.
The document was published on the official legal acts portal, RBC reported. The decree took effect on the day it was signed, September 29.
The measure includes several exceptions. In particular, cash may be taken out through certain international airports if the traveler has bank documents confirming that the full amount was withdrawn from an account.
An exemption also applies to legal entities engaged in international transportation, as well as to cash exported to support the work of Russian diplomatic and consular missions, provided there is a relevant notification from the Foreign Ministry.
If the ban is violated, individuals will have the amount above 1 million rubles confiscated, while legal entities and sole proprietors will lose the entire amount of cash being exported. The government and the central bank must approve rules for recording exported cash rubles within three months.
An earlier presidential decree, No. 193, banned exports to EAEU countries of cash rubles worth more than the equivalent of $100,000 at the central bank exchange rate, as well as refined gold bars with a total weight of 100 grams or more, with some exceptions. When carrying more than $10,000 in cash or travelers' checks, passengers must file a customs declaration, and for amounts above $100,000 they must also provide documents confirming the origin of the funds.
