Russia bans residents from transferring money abroad
Qries

Russia bans residents from transferring money abroad


Russian President Vladimir Putin on Monday banned residents from transferring money abroad as part of measures to prop up the ruble which has plummeted in value as a result of Western sanctions over Russia’s invasion of Ukraine. 

A decree signed by Putin also said that exporters would be required to hold at least 80 percent of revenue in rubles in a move to prop up the Russian economy.


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