Restrictions on Russian bank deposits for foreign persons

New limits on use of bank deposits in Russian banks for foreign "unfriendly" individuals and legal entities in the amount of no more than 10 million rubles per month are introduced.

In particular, this will apply to representative offices and branches of foreign "unfriendly" companies, but shall not affect Russian subsidiaries of such foreign entities.

The practice of Russian banks may vary depending on the approach of each bank.

Source: Decree of the President of the Russian Federation No. 377 dated June 1, 2026: “On Amendments to Decree of the President of the Russian Federation dated March 5, 2022, No 95 'On the Temporary Procedure for the Fulfillment of Obligations to Certain Foreign Creditors”