Russians Pull Billions From Banks Fearing Kremlin Deposit Seizure
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- Russians are withdrawing billions from bank deposits, driven by fears that the Kremlin could seize their savings to fund the war effort, according to The Washington Post and The Telegraph
- Australia's AFR frames the bank run as coinciding with Ukraine's escalating drone campaign against Russian targets, linking public financial panic to the war's trajectory
Why it matters: For ordinary Russian depositors, fears of wartime confiscation have apparently grown strong enough to trigger a multi-billion-ruble bank run — eroding public confidence in financial stability and complicating the Kremlin's ability to fund continued military operations without spooking its own population.
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