Currency control rules for foreign trade contracts have been softened
Effective April 1, 2024, requirements to Russian companies with foreign trade activities have been softened:
- a set of documents will be required by the banks for transactions above 1 million Rubles (currently: 600 thousand Rubles).
- documents will not be required if goods are transported within the EAEU: banks will receive them from the Customs Service, electronically
- reporting will be possible via any authorized bank
At the same time, the list of required information has been expanded, and reporting requirements for cash payments have been defined.
Source:
Bank of Russia