Título: «Russian banks face massive withdrawals amid Ukraine crisis»
Bajada: «As fears of economic instability grow, Russian banks see billions in deposits leaving due to drone strikes and war funding concerns.»
Artículo:
Withdrawals spike amid economic crisis
In the midst of the Ukraine conflict, Russian banks have witnessed a significant increase in withdrawals, totaling around €24.4 billion in the first seven months of the year. The ongoing drone strikes on oil refineries and logistics infrastructure have deepened the economic crisis, leading to widespread fear that private deposits could be frozen or nationalized to support the war efforts.
Banking system under pressure
Data from Banks.ru financial marketplace reveals a steady rise in demand for cash since early March, with an estimated 300 billion roubles (€3.05 billion) being withdrawn each month. Major banks like Gazprombank, Rosselkhozbank, and Alfa-Bank have seen significant losses in deposits, further fueling the financial instability.
Growing concerns and financial implications
The surge in withdrawals can be attributed to fears of destabilization caused by Ukrainian drone strikes, as well as concerns that the Russian government may seize deposits to cover escalating war costs. Recent events, including the transfer of private assets to state control and the extraction of «voluntary donations» from oligarchs, have heightened anxiety among depositors.
Dimming economic outlook
Russia’s economic landscape is showing signs of deterioration, with a meager 0.3% GDP growth in the first half of 2026. The dismissal of chief economist Andrei Klepach underscores growing skepticism about Russia’s ability to sustain a prolonged war economy. Amid mounting costs and ongoing withdrawals, the country faces a challenging road ahead.