Get all your news in one place.
100's of premium titles.
One app.
Start reading
International Business Times
International Business Times
World

Russians Are Pulling Billions From Banks As Fears Grow That Putin Could Seize Deposits to Fund The War

A senior executive at Sberbank, Russia's largest retail bank, warned that withdrawals for all of 2026 could approach twice the amount withdrawn during that first year of the war. (Credit: Alexander Nemenov/AFP via Getty Images)

Russians are pulling billions of dollars out of banks at a pace not seen since the early days of the invasion of Ukraine, as drone attacks, mounting economic strains and fears that the Kremlin could eventually tap private deposits to finance the war shake confidence in the country's financial system.

Nearly $3.4 billion, or 286.4 billion rubles, were withdrawn during the first two weeks of August, according to Russian Central Bank data cited by The Washington Post. That followed withdrawals of $7.3 billion in July and more than $4.5 billion in June.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.