"[The agreement reads that] President of the Republic of Abkhazia Aslan Bzhania submits resignation," the presidency said on Telegram.
The protesters who remain in government buildings must leave them on November 19, Tuesday, or Bzhania will recall his resignation, it added.
"The Abkhaz Parliament will consider the resignation of President of the Republic of Abkhazia Aslan Bzhania on November 19," the post read.
The country's Vice President Badr Gunba will become acting president, while former Prime Minister Valeri Bganba will serve as prime minister, the presidency also said.
The Abkhazian parliament was scheduled to consider the ratification of the investment agreement with Russia on Friday, November 15. The opposition was against the ratification of the document, arguing that it involves the sale of apartments in Abkhazia to Russians. As a result, parliament decided to postpone the discussion until next week. The protesters almost immediately declared that they would not disperse until the parliament votes against the ratification, broke through the gates of the government complex, and demanded Bzhania's resignation. Later, some of the protesters managed to enter the parliament building.