From March 9 to September 9, 2022, the Bank of Russia introduces a temporary procedure for cash transactions:

• All client funds on foreign currency accounts or deposits are saved and accounted for in the deposit currency, the client can withdraw up to 10 thousand US dollars in cash, and the rest of the funds in rubles at the market rate on the day of issue.
• In Russian banks, about 90% of foreign currency accounts do not exceed the amount of 10 thousand US dollars, that is, 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.
• Citizens will be able to open new foreign currency accounts and deposits, but it will be possible to withdraw funds from them, while the temporary procedure for operations with cash currency is in effect, in rubles at the market rate on the day of issue.
• Banks will not sell cash to citizens during the term of the temporary order. It will be possible to exchange cash currency for rubles at any time and in any amount.
• Clients of all banks without exception can receive funds from their foreign currency deposits or accounts. Banks may take several days to bring the required amount in cash to a specific branch.

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As the world’s work marketplace, Upwork’s mission is to create economic opportunities so people have better lives. In our more than 20 years of doing business, we have worked hard to bring our marketplace to more people, with the belief that when people have the ability to innovate their careers and work, they can reach their full potential. 

Russian President Vladimir Putin’s war against Ukraine has challenged our mission, values, and our operational ability to bring economic empowerment to those who seek it. Upwork will be suspending operations in Russia and Belarus, starting today and taking full effect by May 1, 2022. 

The first step will be shutting down Upwork’s support for new business generation in Russia and Belarus. Over the next few days, freelancers and clients in Russia and Belarus will no longer be able to sign up for new accounts, initiate new contracts, and be visible in search. 

We honor the relationships that exist between our customers and recognize the swift adjustments that they will need to make as they process this announcement. As such, existing contracts with talent and clients in the region will remain open, with final billing due by May 1, 2022. 

We made this decision with the utmost consideration. From the beginning of the war, Upwork has been fervently working to support the safety, security, and well-​being of our many team members in the region, as well as the business needs of our customers. We fully understand the significant impact this decision has on our Upwork community in Russia and Belarus, and we want these customers to know that if and when they are able to relocate to regions where we operate, we will be eager to support them in continuing their work on our platform. Additionally, should the geopolitical situation in Russia and Belarus change, we hope to be able to resume operations.

We are heartbroken and horrified by the invasion of Ukraine. Upwork is concurrently working on measures – both immediate and rolling out soon – to further support Ukrainian freelancers and the Ukrainian community, including:

• A $1 million donation to Direct Relief International in support of the Ukrainian population.
• Product enhancements to make it easier for Ukrainian freelancers to preserve the careers they have worked so hard to establish, whether or not they are currently able to work. 
• Programs to make it easier for clients to maintain their existing relationships with and provide financial assistance to talent in Ukraine.
• A $100,000 matching program for donations from our own team members to aid in humanitarian relief in Ukraine. 

While we continue to navigate these crucial decisions and actions, you can view communications via our Community Resource page, which we are updating frequently with new developments and FAQs.