Russians pull billions from banks over fears Putin will raid savings to pay for Ukraine war

Russians are pulling billions from banks in the country over growing fears that Vladimir Putin could raid deposits to pay for his war against Ukraine

The first two weeks of August saw the volume of cash in circulation rise by 286.4billion roubles, or £ 2.5billion, according to The Telegraph.

Every working day of August has seen Russian banks bleed cash, with the highest outflow of 56.8billion roubles, or £491.9million, recorded on August 12, according to central bank data. 

It came after a record financial outflow of money in July, when more than 620billion roubles, the equivalent of around £5.4billion, were withdrawn. 

This marks an

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