New regulations of the Central Bank of the Russian Federation

On March 3, 2022, the Central Bank of the Russian Federation issued an order to brokers to withhold a commission of at least 30% from individuals buying foreign currency.

The regulations affected only three currencies: US dollars, euros, and pounds sterling. This regulation is valid until it is completely canceled.

However, today, on March 4, the Central Bank adjusted the commission for individuals, reducing it from 30% to 12%, and also established a commission for legal entities in the amount of 12% of the amount of transactions. It is worth noting that the commission introduced, as mentioned above, concerns only three major currencies.

The Central Bank of the Russian Federation indicates that the introduced measure will contribute to the alignment of competitive conditions between banks and brokers.