Russia Proposes Capping Migrant Money Transfers to Official Earnings

Tashkent, Uzbekistan (UzDaily.com) — Russian authorities have drafted a bill that would limit money transfers by labor migrants abroad. Under the proposed legislation, the transfer amount would not exceed the migrant’s officially documented earnings.

The initiative aims to prevent the transfer of funds without verified sources. Currently, non-residents can send money abroad without restrictions, which lawmakers argue allows large sums to leave the country without proper oversight.

The draft law is intended to curb money laundering, tax evasion, and capital outflow. The explanatory note highlights that existing regulations do not provide an effective mechanism to align transfer volumes with migrants’ official incomes.

According to legislators, labor migrants sent over US$18 billion in remittances from Russia in 2023. In 2024, transfers to Uzbekistan increased by 29%, reaching US$11.5 billion.