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Russia’s Cash Exodus Accelerates | US News
Russia’s economy is in freefall as billions flee banks—nearly $3.4 billion pulled out in just two weeks of August alone. With drone strikes, ballooning deficits, and fears of asset seizures eroding trust, Russians are hoarding cash under mattresses rather than risking their savings. This unprecedented withdrawal surge already exceeds the first year after the invasion, crippling the Kremlin’s war-funding strategy by starving banks of liquidity and forcing debt auctions to pause. As state grabs on private assets grow more common, economic collapse accelerates—and business confidence? Gone…
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