Russians ‘withdraw billions from banks over fears Putin will seize deposits for war’
7 Articles
7 Articles
Billions are disappearing from Russia's banks because savers fear Vladimir Putin could seize their savings for the war. Now, experts are warning of imminent withdrawal restrictions - while the budget deficit has exploded to 65.5 billion euros.
In the last few hours, thousands of Russian citizens lined up outside banks ready to withdraw from their deposits because of the growing fear that Vladimir Putin might use their savings...
Russians are withdrawing their savings from banks in droves, driven by fears that the Kremlin could start confiscating money to finance the war in Ukraine. According to Euronews, the withdrawals are already causing liquidity problems in Russia.
They saw something similar once before in 2022, when the full-scale Russian invasion of Ukraine began.
Savers, small entrepreneurs and investors are hoarding cash. Banks are sounding the alarm because of "lazy loans". The fear of further burdens from the Kremlin is growing continuously.
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