Restrictions on individuals exporting rubles equivalent to $100,000 or more from Russia to EAEU come into force

MOSCOW. April 1 (Interfax) - Restrictions on the export of cash rubles to countries of the Eurasian Economic Union (EAEU) came into force on April 1.

Russian President Vladimir Putin previously signed a corresponding decree.

The document establishes a ban on individuals exporting rubles equivalent to $100,000 or more at the Central Bank's exchange rate on the current date to EAEU countries. Legal entities and individual entrepreneurs will not be able to export Russian currency regardless of the amount starting from April.

The exception is the export of currency through international airports in Russia designated by the government, if certain documents are provided.

Citizens will need to have with them a document confirming the exchange of currency for rubles, or a document confirming the issuance of cash rubles through an ATM or payment terminal. If the funds are in the form of cash loans or borrowings, a loan agreement or borrowing agreement will be required, as well as a cash expense order issued by a microfinance organization or bank. "This is not about mandatory declaration, but about proper confirmation of the origin of a significant sum of cash," the Finance Ministry previously said.

The list of international airports through which funds may be exported includes 17 hubs, including Sheremetyevo, Domodedovo, Vnukovo, Khrabrovo (Kaliningrad), Tolmachevo (Novosibirsk), and Balandino (Chelyabinsk). In addition, cash rubles may also be exported from Arkhangelsk, Bryansk, Kaluga (Grabtsevo), Kemerovo, Lipetsk, Magnitogorsk, Makhachkala (Uytash), Murmansk, Petrozavodsk (Besovets), Tomsk (Bogashevo) and Cherepovets.

In addition to Russia, the EAEU includes Armenia, Belarus, Kazakhstan and Kyrgyzstan.