The volume of remittances from Russia to neighboring countries continued to decline in 2024, according to the statistics of the central banks of Georgia, Armenia, and Azerbaijan, which were studied by RBC. The data take into account remittances through the banking infrastructure and/or through the Zolotaya Korona, Unistream and Contact money transfer systems. This data is the most accessible compared to the statistics of central banks of other countries popular with Russians.

From Russia to Georgia, $541.2 million was also sent through money transfer systems in 2024, which is 65% less than in 2023, when $1.5 billion was sent. Monthly figures for this direction also declined throughout the year.

The volume of remittances from Russia to Armenia in the first 11 months of 2024 (latest data) decreased by 13%: $3.2 billion in January-November 2024 vs. $3.6 billion in January-November 2023. In contrast to previous destinations, remittances to Armenia showed growth in July and August compared to the same months last year, by 44.2% and 14.7%, respectively. Russia is also the main country sending remittances to Armenia. The Central Bank of Armenia accounts for remittances through the country's banking system.

The Central Bank of Azerbaijan has published only statistics for the first nine months of 2024 so far. The volume of remittances from Russia to Azerbaijan in January-September last year fell by half, to $410.7 million, but this is also the direction where most money is transferred from Russia. The regulator does not specify the methodology of collecting statistics on remittances, indicating only that these are transactions to individuals.