After Zolotaya Korona: What Money Transfer Options to CIS Countries Do Russians Have Left

Sanctions Reach Everyday Payments

The new 21st EU sanctions package, announced on July 23, 2026, became one of the largest in recent years. Beyond restrictions on energy, trade, and the banking sector, for the first time the measures targeted the infrastructure through which millions of people sent money abroad daily. The European Union banned transactions with 32 Russian banks and imposed restrictions against RNKO "Payment Center"—the settlement center of the "Zolotaya Korona" payment system.

Why Zolotaya Korona Specifically

After Visa and Mastercard withdrew from Russia, Zolotaya Korona became one of the key channels for cross-border transfers. The service allowed users to send money without opening a bank account, receive it in cash or have it credited to a card, and its network included more than 550 banks and partners in Russia, CIS countries, and beyond.

The main users were migrant workers, Russian citizens living abroad, families regularly supporting relatives, and small business representatives who needed quick settlements with foreign counterparties.

However, by mid-2026, the system proved vulnerable due to its dependence on international banking infrastructure. The sanctions were imposed not against the brand itself, but against RNKO "Payment Center"—the operator and settlement center of the payment system. After this, foreign banks began refusing cooperation, fearing secondary sanctions. By July 24, transfers from Russia were only available to four countries—Uzbekistan, Turkey, Kyrgyzstan, and Azerbaijan, while operations to Georgia, Kazakhstan, and several other states became unavailable.