This is mentioned on the website of the Central Bank of Russia.
The restriction will be in effect from November 28 until the end of this year. At the same time, the Central Bank of Russia will continue to sell foreign currency.
The Central Bank's decision came at a time when the exchange rate of the Russian currency on international markets reached 113 rubles per dollar and 120 rubles per euro.
Since June of this year, the dollar and euro have not been traded on the Moscow Exchange, following the imposition of sanctions against the exchange and its infrastructure. Currency interventions in Russia are being conducted using Chinese yuan, as explained by Reuters.
On Wednesday, November 27, the ruble was valued at 15 yuan, marking the lowest level since March 2022. The Central Bank of Russia announced it would continue to sell its yuan at an amount equivalent to 8.4 billion rubles per day.
Dmitry Pyanov, Deputy CEO of Russia's second-largest bank, VTB, explained that the sharp decline of the ruble could be attributed to the sanctions imposed by the U.S. on Gazprombank, which is involved in energy trading.
“I believe the sanctions against Gazprombank have had a significant impact, as it is not a channel for currency supply on the Moscow Exchange,” Pyanov noted.
According to analysts at Russia's Promsvyazbank, the Central Bank's decision will "moderately support the ruble, but it will not be enough to return the exchange rate to last week's levels."
Russian Economy Minister Maxim Reshetnikov stated that the volatility of the ruble is driven by the strengthening of the dollar and market concerns following recent sanctions, rather than fundamental factors.
He predicts that the exchange rate will stabilize soon, asserting that 82% of Russian exports and 78% of imports are paid for in rubles and "friendly" currencies of non-Western countries.
On November 21, the U.S. Department of the Treasury imposed sanctions against more than 50 Russian banks, including Gazprombank, over 40 securities registrars, and 15 financial officials.
Following this, banks from several countries, including the United Arab Emirates, Hungary, Germany, Turkey, and Qatar, stopped servicing cards from the UnionPay payment system issued by Russian Gazprombank.
European countries still purchasing Russian gas began to hurriedly seek payment methods to avoid violating U.S. sanctions, as reported by Bloomberg.