Send Money to Russia

Russia and India share one of the longest-standing bilateral relationships in modern history, and around 72,000 Indians live across the country today. From Moscow and St. Petersburg to Kazan, Ufa, and Volgograd, the Indian presence is concentrated around universities and trade.

For Indian families, Russia is overwhelmingly an education destination. More than 20,000 Indian students are currently enrolled in Russian medical universities, drawn by heavily subsidised tuition, English-medium MBBS programmes, and NMC recognition. Alongside students, Indians work in trade, engineering, energy, and diplomacy.

This makes sending money to Russia a regular requirement, largely tied to semester fees, hostel charges, and monthly student allowances. Transfers are typically routed in USD or EUR and converted locally, and international sanctions mean routing and processing times can vary.

This is why choosing a compliant, transparent platform matters when you remit money to Russia. BookMyForex helps you send funds securely through permitted banking channels with clear rates and documentation support at every step. 

Indian remittances to Russia follow the map of its medical universities. Moscow receives the highest volume, home to Sechenov University, the largest Indian community, and most business and diplomatic activity.

St. Petersburg attracts transfers linked to Pavlov University and its student population. Kazan is a major destination given the large Indian cohort at Kazan State Medical University, while Ufa, Volgograd, and Perm receive steady inflows tied to their medical institutes.

Smaller but regular transfers reach Novosibirsk, Yekaterinburg, and Nizhny Novgorod, connected to regional medical institutes, technical universities, and engineering roles held by Indian professionals. 

Accurate beneficiary details, including the account number and the bank's SWIFT code, are essential, and transfers are routed only through permitted, non-sanctioned Russian banks. Education payments are usually made in USD or EUR directly to the university's official account and converted locally. Because of international sanctions, additional compliance checks apply and processing can take longer than on other corridors, so complete documentation matters.

Funds are ultimately credited in RUB, allowing recipients to cover tuition installments, hostel charges, and everyday living expenses. 

As per the Union Budget 2026, Tax Collected at Source (TCS) applies to outward remittances under LRS based on the purpose and amount of transfer. Here are the applicable TCS rates:

● Education via education loan: 0% TCS (any amount)
● Self-funded education & medical treatment: Nil up to ₹10 lakh; 2% above ₹10 lakh
● All other outward remittances: Nil up to ₹10 lakh; 20% above ₹10 lakh

Note: TCS is not a final tax, it can be claimed as credit when filing your ITR. BookMyForex auto-calculates applicable TCS at checkout so there are no surprises.

 Know More About TCS →