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Vladimir Gutenev, head of the State Duma’s Industry and Trade Committee, told the pro-Kremlin news outlet Life that Russians should be ready for “regular and necessary” internet shutdowns and recommended withdrawing cash in advance to avoid being caught off guard.
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He acknowledged the country’s reliance on digital payment systems but emphasized the need to prioritize national security over convenience.
“We’re used to paying with cards or smartphones and having constant connectivity. But now it’s important to accept temporary restrictions as a necessity,” he said.
“Don’t turn into a hipster who only lives in the center of Moscow,” he added. “Life is not limited to comfort.”
His comments follow a sharp rise in internet outages across Russia due to the threat of Ukrainian drone attacks in recent months.
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Meanwhile, Several of Russia’s largest banks are reporting an outflow of individual deposits following reductions in interest rates and widespread rumors concerning potential deposit freezes by the government.
According to data analyzed by the consultancy Frank RG, eight of the country’s 20 largest credit institutions experienced deposit outflows in June.
The largest withdrawal was recorded at Alfa-Bank, Russia’s biggest private lender with roughly 30 million clients, which saw a 3.9% decline in retail deposits equivalent to 125.3 billion rubles ($1.54 billion, according to spot foreign exchange market data published by Reuters).
Other banks posting significant outflows include the privately owned Sovcombank (-2.9%), Dom.RF (-2.5%), Russian Standard Bank (-2.2%), MKB (-2%) and both GPB and Post Bank (-1.1%) [...]
Andrei Zubets, director of the Institute for Socio-Economic Studies at the Financial University under the Russian government, said last year that authorities might implement deposit freezes in response to the threat of rapid inflation should consumers begin spending en masse.
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