Frozen Deposits in Russia: How Real Is the Risk? How to Protect Your Savings Amid High Interest Rates

... Deposit Freezes in Russia Russia has faced several financial crises that included deposit freezes or devaluation of savings. Here are key examples: Soviet Union, 1991: The collapse of the USSR led to hyperinflation and the devaluation of savings in Sberbank accounts, effectively wiping out household wealth. 1998 Crisis: The ruble’s collapse and banking sector failures made it difficult for depositors to access their funds, causing significant financial losses. Pavlov’s Reforms, 1991: Restrictions ...

Modified: 11/26/2024
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