Duma adopts amendments to bill on currency regulations

The State Duma has adopted amendments to the bill on the regulation of currency operations, which were approved by the conciliatory commission earlier. The amendments deal with the procedure for exportation of cash foreign currency from the Russian Federation. The bill was passed by the State Duma on December 20, 2002, but rejected by the Federation Council on December 27. In accordance with the present version of the bill, individual residents of Russia will be entitled to carry a sum not exceeding $10,000 from Russia during one trip. It is not required to submit any documents to the Customs Service of Russia to confirm that the currency to be exported was imported in the Russian Federation earlier or bought in Russia.

Individual residents of Russia will not be allowed to carry a sum exceeding $10,000 from Russia during one trip. If a sum to be carried from Russia does not exceed $3,000, it will not have to be shown in the customs declaration.