Sberbank has issued a statement on the new rules for foreign currency transactions introduced by the Central Bank of Russia.

Sberbank says it continues to operate normally and that it is ready to meet the cash demand of its clients and comply with the new rules on foreign currency transactions in cash.

In the meantime, non-cash foreign currency purchasing remains available to clients of Sberbank via Sberbank Online. The Russian ruble funds of Sberbank clients are not subject to any restrictions.

The Central Bank of Russia has introduced temporary rules for foreign currency operations in cash. The rules will be valid from March 9, 2022 to September 9, 2022.

All funds in foreign currency accounts and deposits are safe and accounted for in the deposit currency. A client will be allowed to withdraw up to $10,000 in foreign currency in cash, whereas the remainder will be given to the client in Russian rubles (according to the exchange rates for the day of the transaction).

Banks will not sell foreign currency (in cash) to individual clients while the new rules are in force. Exchanging foreign currency for rubles remains available, regardless of the transaction size.

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