Russians Withdraw Record Cash Amid Fears Over War Economy

abc

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In the first two weeks of August almost 3 billion euros have been withdrawn (286,400 million roubles) from Russian banks, which add to the 10 billion euros withdrawn between July and June, according to data from the Central Bank of Russia. A record cash outflow amid the intensification of attacks on both sides of the front, and encouraged by the fear that the Kremlin will decide to confiscate the reserves and use them for war. Taras Skvortsov, a…

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The media reported that Russians would withdraw billions from their accounts – fearing that the Kremlin could collect private money. But it's not that simple.