The Bank of Russia has raised the monthly limit for transfers by individuals to their foreign accounts or to another person up to a million dollars, the regulator said.

“From July 1, 2022, Russian resident individuals have the right, within a calendar month, to transfer from their account in a Russian bank to their account abroad or to another person no more than one million US dollars or the equivalent amount in another foreign currency”, - noted in the Central Bank.

A similar threshold was set for transfers of resident individuals from friendly states.