Putin bans taking more than one million rubles in cash from Russia to Belarus, Armenia, Kazakhstan, and four other countries. What if you need to take more?

Russian President Vladimir Putin has imposed a ban on individuals and companies taking cash exceeding 1 million rubles when traveling to Belarus, Armenia, Kazakhstan, Kyrgyzstan, Azerbaijan, Tajikistan, and Uzbekistan. The new rule came into effect on September 29, reducing the previous limit from $100,000 to roughly one-eighth to one-ninth of the previous amount.

Companies and sole proprietors must now provide bank-certified statements confirming the source of the cash. The decree also exempts funds for Russian diplomatic missions, consulates, and government offices abroad. Individuals found with cash exceeding the limit will have it confiscated, while companies and sole proprietors face confiscation of the entire sum.

The Foreign Ministry, FSB, and Federal Customs Service will enforce the decree. The restrictions aim to curb semi-legal business schemes and increase transparency in cross-border transactions. Travelers should carry less than one million rubles in cash and use electronic transfers for larger amounts. Alternative methods for transferring money from Russia to affected countries include using the IDPay app, Unistream, Avosend service, Russian banking apps, and cryptocurrencies.

However, caution should be exercised when using these methods outside the listed countries to avoid potential sanctions evasion.