- Russian citizens are withdrawing billions from banks due to fears the Kremlin could seize private deposits to fund the war in Ukraine, according to a report in the Washington Post.
- Data from the Russian Central Bank shows £2.5 billion was withdrawn in the first two weeks of August alone.
- The massive cash outflow follows earlier withdrawals of £5.4bn in July and over £3.3bn in June.
- The wave of withdrawals comes alongside intensifying drone strikes across Russia from Ukraine.
- Experts say the trend reflects a severe lack of trust in the Russian banking system and fears that deposits may be nationalised.
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