28 April 2026
Russian savings have become virtually the only source of financing for the economy, as sanctions have closed Western capital markets to domestic companies. Central Bank Governor Elvira Nabiullina stated this at the Alfa Forum on Tuesday.
“Until 2022, our borrowers, our companies, had access to, let’s call it, the savings of citizens of Europe and the United States. Precisely savings. Since inflation in these countries was low and interest rates were low, our companies could borrow these savings at relatively low rates,” Nabiullina said.
“To put it simply, our export sector, which took out these loans abroad, could borrow from citizens of Europe and the United States to increase production of goods that it exported there,” she explained.
But now, global savings are “inaccessible,” Nabiullina emphasized: “The only source of financing, practically the only one, is Russian savings. And high inflation, high interest rates” (quotes from Reuters).
Timber…………
If this doesn’t get the sheep on the streets protesting, nothing will.
Naw, they’ll take it in the ass if they have to.
I guess the next logical question would be, will the Moskali actually buy russki government bonds to bail them out? I doubt it. Even if they did it would be super temporary.
From what I hear, the banks are going to take their savings and issue them with a piece of paper in return. The sheep have no say in the matter.