Russians turn to cash, putting more strain on slowing wartime economy

Russians have been hit by mobile internet shutdowns and more businesses are seeking to dodge tax after more than four years of war with Ukraine.

July 19, 2026

Russians are increasingly relying on physical currency, a trend that is intensifying pressure on the nation's already decelerating wartime economy. This shift towards cash has been marked by multiple spikes in withdrawals,

russia economy cash economy shadow economy tax avoidance wartime economy internet shutdowns business struggles economic uncertainty

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