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Thanks -- those are some useful data points. What about the freezing (and probable eventual seizure) of $300b of CBRF assets (apparently 60 percent its total f

Thanks -- those are some useful data points. What about the freezing (and probable eventual seizure) of $300b of CBRF assets (apparently 60 percent its total foreign currency reserves)? That's got to be causing some significant pain, somewhere.

grishka 2y ago
Not sure if it's caused by this or the sanctions related to USD and EUR currencies themselves, but CBRF has introduced limitations on foreign currency transactions in March 2022. They were supposed to last 6 months but every time they're about to expire they get extended for 6 more months. You can't withdraw more than $10k of USD or EUR cash combined from all foreign currency accounts in each bank, and you can only withdraw the money that was there before March 2022. Past that limit and for any money you received after March, you can only withdraw it as rubles at the CBRF exchange rate, iirc. Most banks also treat dollars and euros like they're radioactive and will hit you with monthly fees if you have too much. So in the end we have three different exchange rates for these currencies: the CBRF one, the one for online operations with those "virtual" dollars and euros in currency accounts, and the "real" one for cash.