Russian capital control decrees (2022)

Russian capital controls introduced in 2022 are a changing group of presidential, government and central-bank measures, not a single decree. They combined foreign-exchange surrender, transfer restrictions, payment rules and special-account mechanisms to defend financial stability after the invasion of Ukraine and external sanctions. They are part of defensive and retaliatory Economic statecraft.

Initial measures

Decree No. 79 of 28 February 2022 imposed emergency foreign-exchange and cross-border rules. Decree No. 95 established payment procedures involving creditors associated with states placed on the Unfriendly states list (Russia, 2022), including special account arrangements. Government export-proceeds requirements and Bank of Russia directions added further layers.

These acts must not be combined into one permanent rule. A presidential decree, government resolution, central-bank restriction and bank account opened for a transaction have different legal bases and administrators. C-type, In-type and other special accounts also serve different purposes.

Changes through July 2026

The mandatory sale of export proceeds changed repeatedly, including reductions and settings at zero for specified requirements. Bank of Russia limits on transfers and foreign-currency cash were extended or adjusted separately. As at 30 July 2026, the Bank announced that specified cash-withdrawal restrictions would continue through 7 December 2026. That end date described the announced duration of particular controls, not a conclusion that every capital restriction would end then.

The current cross-border FAQ and official instruments control the position. Every live claim must be refreshed on publication day. Measures may expire, be prolonged or be altered without changing the original 2022 decree text.

Strategic relationship

The controls formed part of Russia's rouble defence and capital controls (2022). They interacted with interest-rate action, energy receipts, trade rules and the Coalition immobilisation of Central Bank of Russia reserves (2022-present). External reserve immobilisation and Russia's internal transfer restrictions were separate acts by opposing authorities.

The mechanism fits Coercive capital controls when it restricts asset exit or channels payments, but not every prudential measure is offensive coercion. Some rules sought domestic financial stability, while others discriminated by counterparty or jurisdiction. Intent and polarity must be assigned to the specific measure.

Evidence and effects

A rouble movement cannot be attributed to one decree without accounting for monetary policy, export revenue, import compression, intervention expectations and market liquidity. Likewise, a special account does not itself prove confiscation or title transfer. The authority and account rules establish the legal channel; transaction-level evidence is needed for a claim about blocked value or beneficiary loss.

Resident and non-resident status, currency, destination and transaction type can change the applicable rule. A headline transfer ceiling cannot be generalised to corporate dividends, securities settlement or cash withdrawal without checking the relevant instrument.

Active-conflict claims are current only through the stated review date. The page records the legal structure and announced duration rather than predicting enforcement after July 2026.

Sources

• Russian presidential Decree No. 79, 28 February 2022.
• Bank of Russia, restrictions through 7 December 2026, accessed 30 July 2026.
• Bank of Russia, current cross-border transfer FAQ, accessed 30 July 2026.
• Russian Government, export-proceeds rules, accessed 30 July 2026.