Russians Hoard 2.1 Trillion Rubles in Cash During First Seven Months of 2026

According to Jin10, Russians have withdrawn 2.1 trillion rubles (approximately $25 billion) from the banking system in the first seven months of 2026, marking the largest increase since the start of the conflict. The shift signals growing public concerns amid escalating military developments near Russian territory. Central Bank data shows cash now represents a rising share of the money supply, reversing years of declining cash usage. The trend has prompted concern from Sberbank, Russia's largest lender, which has historically relied on substantial deposit bases to maintain high profit margins at lower funding costs.
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