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Russians pull billions from banks, fearing Kremlin will seize deposits for war

Washington Post World Tuesday 18 August 2026, 09:00 UTC By Catherine Belton 1 min read
Key Points

Russians are pulling billions from the country’s banking system ― a record cash outflow amid intensifying Ukrainian drone attacks and rising fear that the Kremlin could start seizing deposits to finance its war. Democracy Dies in Darkness Russians pull billions from banks, fearing Kremlin will seize deposits for war Russians are withdrawing billions, causing liquidity problems for banks and undermining the Kremlin’s ability to issue bonds to finance the fight in Ukraine.

Russians are pulling billions from the country’s banking system ― a record cash outflow amid intensifying Ukrainian drone attacks and rising fear that the Kremlin could start seizing deposits to finance its war. Democracy Dies in Darkness Russians pull billions from banks, fearing Kremlin will seize deposits for war Russians are withdrawing billions, causing liquidity problems for banks and undermining the Kremlin’s ability to issue bonds to finance the fight in Ukraine.
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