Panicked Russians withdrew 100 billion rubles from banks during the Wagner revolt, central bank says

• Russians withdrew over $1 billion worth of rubles from domestic banks during the Wagner revolt, its country’s central bank said.
• That number accounts for one fifth of all outflows in June.
• This is the most cash demanded since fall of 2022, when a military mobilization was ordered in the country. 

The Wagner Group’s march on Moscow late last month sparked a massive surge in withdrawals from the country’s banks, Russia’s central bank said on Tuesday.

Whereas 500 billion rubles moved out of banks throughout June, a fifth of that was pulled from June 23-25. That’s as the Wagner Group, a mercenary organization led by Yevgeny Prigozhin, turned its forces towards the Russian capital after disputes arose with the nation’s top brass.