26/08/2026
🏧 Could record cash withdrawals trigger a banking crisis in Russia?
🏦 Russians withdrew more than RUB 286 billion from banks in the first two weeks of August, amid growing concerns over financial stability.
📢 Speaking to Swedish newspaper Dagens Nyheter, SITE Director Torbjörn Becker describes the situation as a classic bank-run scenario: “The financial system is built on trust. As soon as people start questioning whether they will actually be able to withdraw their money, many may rush to the banks at the same time.”
➡️ Read the full article (in Swedish): https://www.dn.se/varlden/ryssar-tar-ut-rekordstora-summor-fran-banken-kris-hotar/
Record cash withdrawals from Russian banks are raising concerns about growing financial instability.
During the first two weeks of August, Russian residents withdrew more than RUB 286 billion from the country’s banks, according to data from the Central Bank of Russia. The withdrawals come amid fears that private assets could be used to help finance Russia’s war against Ukraine.
Speaking to Swedish newspaper Dagens Nyheter, SITE Director Torbjörn Becker describes the situation as a classic bank-run scenario:
“The financial system is built on trust. As soon as people start questioning whether they will actually be able to withdraw their money, many may rush to the banks at the same time.”
Becker notes that risks have accumulated throughout the war, including through extensive bank lending to the military-industrial sector and a growing volume of problem loans. A sustained loss of confidence could, in the short term, contribute to a banking crisis and, over time, weaken economic growth.
➡️ Read the full article (in Swedish): https://www.dn.se/varlden/ryssar-tar-ut-rekordstora-summor-fran-banken-kris-hotar/
💡 Learn more about the state of the Russian economy in the latest Kiel Institute report co-authored by Torbjörn Becker: https://www.kielinstitut.de/publications/endgame-the-state-of-the-russian-economy-19855/
