EAEU banks tighten rules on cash rubles

Financial institutions in Armenia, Belarus, Kazakhstan, and Kyrgyzstan have begun introducing fees and restrictions on transactions involving cash Russian rubles. The move comes in response to a growing volume of ruble cash outside Russia and difficulties in putting it to further use.

Some banks are now charging fees for depositing rubles into accounts, while certain institutions have stopped accepting cash rubles altogether. These measures reflect the need to account for the costs of storing, processing, and circulating ruble funds amid shifting regional financial flows.