Russia to Ease Major Restrictions on International Money Transfers

The Central Bank of Russia will lift key restrictions on cross-border money transfers starting December 8. The change will allow individuals in Russia to send funds abroad more easily. The new rules apply to Russian citizens and to citizens of so-called "friendly" countries. These are nations that have not joined international sanctions against Russia. The central bank imposed strict limits on such transfers shortly after the start of the Ukraine conflict. The move was designed to prevent capital flight and stabilize the country's financial system. Officials have not detailed the new transfer limits or which specific channels will reopen. The policy shift signals an adjustment in Russia's economic strategy as it adapts to prolonged financial isolation.