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The Independent UK
The Independent UK
World
Suha Kidwai

Russians ‘withdraw billions from banks over fears Putin will seize deposits for war’

Vladimir Putin Russia Kremlin Sergei Sobyanin The Washington Post Ukraine

Russian citizens are withdrawing billions of roubles from the country’s banks over fears that the Kremlin could seize deposits to fund the war in Ukraine.

Analysts say fears that the Kremlin could confiscate private savings to bankroll the conflict have triggered widespread panic, with more than 286.4bn roubles (£2.5bn) pulled from Russian banks during the first two weeks of August alone.

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