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Russia is suffering from a slow-motion bank run as the Kremlin scavenges for war funding—and it may start seizing recruits for the military too

  • Russians pulled billions from banks this summer — withdrawals accelerated from June through mid‑August — as people fear deposits could be seized.
  • Kremlin steps (past asset nationalizations and plans to tap about $40 billion in private pension savings) have heightened worries that the state may grab private money.
  • Rumors of a new mobilization have pushed cross‑border traffic up and driven property demand and prices in nearby countries like Georgia and Armenia.
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