The Central Bank announced the tightening of restrictions on the export of gold and cash from Russia

The Russian authorities in the near future intend to tighten restrictions on the export of cash and gold from Russia to the countries of the Eurasian Economic Union (EAEU). This was announced by the head of the financial monitoring and currency control service of the Bank of Russia Bogdan Shablya at the International Banking Forum.

“The order is really very important, very serious. We hope that it will also be finalized and modified in the near future, since practice shows that it is necessary to bring even more order to this direction, Shablya said.

Bogdan Shablya noted that when transporting an amount exceeding the norm of the decree, supporting documents are required to “confirm the sources of origin” of this money. However, in practice, this requirement is not always met, he noted. “There are cases of abuse, attempts are made to use the same documents for the export of, let’s say, several batches of money,” added Mr. Shablya. The Central Bank proposed to strictly check the reliability of the documents provided and prevent their reuse.