Banks in the Eurasian Economic Union (EAEU) member states Belarus, Kazakhstan, Kyrgyzstan, and Armenia have begun to tighten the conditions for depositing cash Russian rubles into accounts since June, RBC reports.

Some banks in Armenia have even completely stopped cash Russian ruble transactions, including their deposit into accounts, although non-cash transactions continue to be carried out under the previous conditions.

RBC sources in the financial market note that EAEU banks are faced with the problem of a surplus of the Russian national currency.

Separately, a decree of the Russian president has been in effect since April 1, which limits the export of cash exceeding $100 thousand to other EAEU countries. The Russian Federal Customs Service explained the tightening of these conditions by the fact that cases of exporting large amounts of Russian rubles have become more frequent.