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Currency control

Currency control

Failing to credit foreign-currency proceeds on time, an unfiled or late report on the movement of funds through a foreign account, an order under Art. 15.25 of the Administrative Offences Code, a bank's refusal to process a transaction — currency-control rules change faster than a business can react. We support clients in disputes with the regulator and with banks: from objections to an audit report to challenging a fine in court.

Context
Who is this for?

  • Companies and entrepreneurs engaged in foreign economic activity who have received a currency-control claim.

  • Owners of foreign accounts who failed to file, or filed late, a notification or a report on the movement of funds (RMF).

  • Residents whose authorized bank refused to process a transaction.

  • Companies held liable for failing to credit foreign-currency proceeds within the statutory deadline.

Relevance
What problems are solved?

  • Fines under Art. 15.25 of the Administrative Offences Code.

  • Missing the deadline to file a notification or report on a foreign account.

  • A bank refusing to process a transaction without legal justification.

  • Disagreements between the regulator and the business over how currency legislation should be interpreted.

's services include
Assessing the prospects of challenging an order

under Art. 15.25 of the Administrative Offences Code

Preparing objections to the case file

ron liability for currency-related violations

Challenging rulings under art. 15.25 of the Administrative Code

for violations of currency legislation

Handling disputes with an authorized bank

over its refusal to process a transaction

Advising on and defending notification and reporting (RMF) obligations

over its refusal to process a transaction

Questions and answers
Participants in international and Russian professional rankings: Best Lawyers, Chambers, The Legal 500, Who Is Who Legal, World Tax, Leaders League, Forbes Legal Ranking, Kommersant, PRAVO‑300.
What is the penalty for failing to credit foreign-currency proceeds on time?
A fine under Parts 4, 4.1 and 5 of Art. 15.25 of the Administrative Offences Code — from three-quarters to the full amount of the funds not credited, for legal entities. The amount depends on the scale of the violation, repeat offenses and any mitigating circumstances.
Can a currency-control fine be reduced?
Yes, the authority or court hearing the case may reduce the fine where the violation is minor or there are mitigating circumstances — for example, voluntarily remedying the consequences.
What should you do if a bank refuses to process a currency transaction?
Request a written justification from the bank citing the relevant rule, check whether this is linked to the bank's internal compliance policy, and, if the refusal is unjustified, challenge it in court or through a complaint to the Bank of Russia.
Do you need to notify the tax authority when opening an account abroad?
Yes, a resident must notify the tax authority of opening, closing or changing the details of a foreign account within one month, and must also file an annual report on the movement of funds (RMF).
What happens if you miss the deadline to notify about a foreign account?
A fine for the late notification, and, if no notification is ever filed, the risk that all transactions on the account will later be classed as illegal currency operations, carrying a substantially higher fine.
Cases in this practice area
May 21, 2026
Challenging a fine for a currency-control violation under Art. 15.25 of the Administrative Offences Code
Defending an individual entrepreneur held liable under Part 4, Art. 15.25 of the Administrative Offences Code.
More
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