Russians Withdraw Billions From Banks Amid Asset Grab Fears
· World · Hindustan Times, Telegraph India, The Independent
Russians withdrew nearly $3.4 billion from their bank accounts in the first two weeks of August 2026, driven by fears that the government could seize private money to fund the war in Ukraine. This capital flight follows withdrawals of about $11.8 billion during June and July. Ukrainian strikes targeting businesses and energy facilities deep inside Russian territory have heightened economic anxiety and a domestic fuel crisis. Sberbank senior executive Taras Skvortsov warned that total capital flight in 2026 could reach twice the volume recorded after the 2022 invasion. Russian banks are facing severe cash pressure as they manage heavy war-economy lending alongside the mass withdrawals.
Why it matters
Mass bank withdrawals threaten the stability of Russia's financial sector as liquidity is squeezed by military spending and capital flight.
Read the original report — Hindustan Times
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