Amendments to the Law on the National Payment System stipulate that should a foreign state impose restrictions on the use of payment systems whose operators are registered with the Bank of Russia, the cross-border transfer of funds can be effected from the Russian Federation to such a foreign state only if payment system operators and operators of payment infrastructure services are under the direct or indirect control of Russian legal entities. The restrictions apply only to cross-border transfers conducted without opening a bank account.
The Bank of Russia will publish information on its official website regarding the introduction of such restrictions by a foreign state, based on information received from a federal executive body authorised by the Russian Government.