Vneshekonombank, the Russian trade bank that in December froze $6 billion of hard currency accounts, is letting Russian citizens withdraw up to $500 per account per day.


Vasily Veselov, director of non-trade operations, explained the payout rules in a letter to Argumenti i Fakti. But he told The Moscow Times that nothing stopped foreigners accessing their money.


This will come as a surprise to hundreds of Western companies who were forced to open accounts with the bank and lost access to their funds when it closed last year. They only have letters confirming the balance and offering to repay the debt with government bonds.


Veselov said the only people now not being paid are residents of non-Russian republics. They will be paid out, Veselov said, when agreement is reached on sharing out the Soviet Union's debts.