Russia

Cash in circulation in Russia has expanded dramatically since the Ukraine invasion. In June 2023, the demand for rubles and foreign cash spiked as Wagner forces approached Moscow.

Digital payments surpassed cash in Russia in 2018, and the central bank promoted them during the Covid-19 pandemic. Mobile and card payments operate with glitches since Western countries imposed sanctions following the invasion of Ukraine.

Currency in circulation grew rapidly in Russia during the Covid-19 pandemic. ATMs declined between 2014 and 2018. Daily cash withdrawals spiked after the invasion of Ukraine.

Demand for foreign and domestic cash spiked in Russia after Western nations announced financial sanctions following the invasion of Ukraine. Massive cash withdrawals and runs on savings could trigger a banking panic and cause a financial meltdown.

Cash demand is soaring in Russia. The country joins Argentina, Australia, the Euro area and the US, which have also seen a sharp rise in cash in circulation.

Money from the sky? It's not science fiction! Indeed, Russia's largest bank, Sberbank, is testing drones to be used in the transportation of cash from one place to the other and could be implemented by the end of this year.

Russian criminals transferred more than $20 billion stolen money in Europe via Moldovan, Latvian and British banks.

Russia's Post Bank will be the first bank to deploy self-service ATMs with cash recycling properties in partnership with Diebold Nixdorf.