According to the Russian Ministry of Finance, 291 cases of attempted illegal export of cash were identified between April and July of this year. As a result of these actions, the outflow of funds worth nearly 180 million dollars from the country was prevented.
Under the new regulations adopted in September, individuals are prohibited from taking more than 1 million rubles in cash to Uzbekistan, Tajikistan, Azerbaijan, and countries of the Eurasian Economic Union (EAEU). For legal entities and individual entrepreneurs, the export of cash to these states is completely banned.
In case of violation of the rules, the amount exceeding 1 million rubles will be confiscated from individuals, while all cash funds will be confiscated from legal entities and individual entrepreneurs. As an exception, the export of currency may be permitted if documents confirming the withdrawal of funds from bank accounts are provided through international airports.
These measures have been introduced to reduce the illegal outflow of capital from Russia and strengthen financial discipline. It is expected that the Russian government will approve the procedure for accounting for cash rubles being taken out of the country within the next three months.
