Browsing: Russians

Russians withdrew around €24.4 billion from the country’s banking system in the first seven months of this year, as Ukrainian drone strikes on oil refineries and logistics infrastructure deepened the economic crisis, and fear spread that the Kremlin could move to freeze or nationalise private deposits to fund its war in Ukraine.

A record flight of household money out of Russia’s banks—the sharpest since the opening months of the full-scale war—has now spread to nearly all of the country’s largest lenders.