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

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Democracy Dies in Darkness

Russians are withdrawing billions, causing liquidity problems for banks and undermining the Kremlin’s ability to issue bonds to finance the fight in Ukraine.

August 18, 2026 at 5:00 a.m. EDT2 minutes ago

The Central Bank of the Russian Federation in Moscow. (Sefa Karacan/Anadolu/Getty Images)

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.

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