Citizens in Moscow and other Russian cities lined up at ATMs and bank branches in search of cash, both in rubles and dollars, for fear of the collapse of the hryvnia and the inability to use international payment systems, according to a Financial Report. Times.
Queues of people trying to withdraw foreign currency began to form as early as Thursday morning, following the decision of Russian President Vladimir Putin to launch a full-scale invasion of Ukraine, sending the ruble to historically low levels.
Video from Russia shows a long line at an ATM in Moscow, indicative of Russians’ fears that they will not be able to withdraw cash as US and EU sanctions against their country take effect, the Times of Israel reports. The ATM in the video below runs out of money after 40 minutes.
The Moscow bank run: a queue for a Tinkoff ATM in the Liga shopping center in Khimki. There are about 70 people online. Eyewitnesses say the money in the ATM runs out within 40 minutes. @bazabazon pic.twitter.com/MTMkEiCRHJ
– Jason Corcoran (@jason_corcoran) February 27, 2022
Source: Capital
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