Russian Central Bank Limits Funds Movement to Unfriendly States by Potentially $300Bln

MOSCOW (Sputnik) - Russia has imposed restrictions on the movement of funds to unfriendly countries for a comparable amount in response to the freezing of part of its gold and foreign exchange reserves by Western countries, the Central Bank said on Friday.

The Russian finance ministry estimated that Western countries, as part of sanctions over Ukraine, have frozen about half — or about $300 billion — of Russia's gold and foreign exchange reserves.

"In response to the freezing of part of Russian reserves, Russia also imposed restrictions on the movement of funds that could be transferred to unfriendly countries for a comparable amount," the regulator said in a statement.