The head of VTB Kostin proposed introducing a limit on the withdrawal of rubles from Russia
Restrictions on transferring funds abroad are in effect until September 30 and may be extended.
The head of VTB Bank, Andrei Kostin, announced the need to introduce a threshold for individuals transferring money abroad in rubles at 100 million a month, writes RBC.
Kostin pointed out that the volume of transfers of individuals abroad is currently not limited by the Bank of Russia. Thus, citizens can, for example, transfer a billion rubles abroad, to Armenia, and receive the equivalent in dollars from the country.
“This opportunity needs to be closed, for example,” the banker said.
Kostin considers it necessary to introduce a threshold for transfers for individuals in rubles, similar to what applies to foreign currency. Its monthly amount is $1 million.
The head of VTB also believes that the Bank of Russia is considering such a measure to strengthen the ruble.
At the end of March 2023, the Central Bank of the Russian Federation extended restrictions on money transfers abroad until September 30. Residents from friendly countries can transfer no more than a million dollars or the equivalent in another foreign currency to accounts in foreign banks within 30 days.
