The procedure runs from March 9 to Sept. 9, the bank said in a statement published on its website.
Accordingly, account holders can withdraw up to $10,000 in cash, and the rest of the funds should be in rubles at the market rate on the day of issue.
The statement said that at Russian banks, about 90% of foreign currency accounts do not exceed the amount of $10,000, adding that "90% of holders of foreign currency deposits or accounts will be able to fully receive their funds in cash.”
"During the period of this temporary order, the currency will be issued in US dollars, regardless of the currency of the account. Conversion of other currencies to USD will be at the market rate on the date of issue," it added.
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