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For the first time since 2022, Russians are withdrawing savings from state banks
📈 Business

For the first time since 2022, Russians are withdrawing savings from state banks

Since the start of the full-scale invasion, an unspoken pact held in Russia: citizens deposited a significant share of their wages into state banks, which the Kremlin used to fund the war. For the first time since 2022, Russians are now withdrawing savings rather than depositing them, according to an analysis. Analysts say the timing could not be worse for Moscow's war economy.

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