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Russians turn to cash as internet blackouts disrupt payments

The Japan Times·No Author·27 days ago
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The amount of cash in circulation in Russia jumped by about 600 billion rubles ($8 billion) in April. | Bloomberg Cash is making a comeback in Russia as digital payments grow more unreliable with frequent mobile internet outages the Kremlin says are aimed at countering the threat of Ukrainian drone attacks. The amount of cash in circulation jumped by about 600 billion rubles ($8 billion) in April. That’s the biggest monthly increase — excluding annual spikes in December — since September 2022, when President Vladimir Putin announced a partial mobilization for the war in Ukraine, according to calculations based on data from the Bank of Russia. Cash in circulation in Russia expanded by more than 1.1 trillion rubles over the past three months, more than the increase recorded for the whole of 2025, the calculations show.…

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