Russia | Foreign depositors will be able to withdraw funds without a type “C” account

Decree No. 550 of the President of the Russian Federation, dated August 4, 2026, amended the procedure for payments on bank deposits held by foreign citizens.

Now, funds from such deposits do not need to be credited to special “C” accounts solely because the depositor is a non-resident from an unfriendly state.

The new procedure also allows funds that were already credited to “C” accounts between June 1, 2026, and the effective date of the amendments to be withdrawn in rubles.

Deposits held by branches and representative offices of foreign organizations registered in Russia are also exempt from the special regime.

Important: These changes apply specifically to bank deposits. All other counter-sanctions and currency restrictions regarding non-residents from unfriendly states remain in effect.

For more details, see Decree of the President of the Russian Federation No. 550 dated August 4, 2026.