Russians are moving money abroad in large numbers out of fear of new restrictions
Russians have begun actively transferring their savings abroad, buying up foreign currency, and withdrawing money from banks amid sanctions and expectations of new restrictions.
According to Ukraine’s Foreign Intelligence Service, from December 2024 through June 2026, Russian households transferred nearly 600 billion rubles to foreign brokers. This is more than in the previous seven years combined.
Transfers rose particularly sharply in the spring of 2026—from April through June, Russians transferred 42–45 billion rubles each month.
At the same time, they are actively buying up foreign currency in cash. Over three months—from April through June—the Russian population purchased nearly 159 billion rubles worth of foreign currency. Russians also withdrew about 2 trillion rubles in cash from the banking system between January and July.
Intelligence analysts believe that Russians fear tougher sanctions, new domestic restrictions, possible mobilization, and other measures following the State Duma elections.
Source: Foreign Intelligence Service of Ukraine.
In Russia, there is a trend toward staff reductions in various sectors, particularly in IT, healthcare, logistics, manufacturing, retail, consulting, and other business services.
The Russian Ministry of Finance forecasts a sharp increase in regional budget deficits to $21 billion.
