Russia to seize retail deposits if sanctions go too far, official warns
Russia’s largest bank, Sberbank, has denied its own supposedly false statement on being included in the U.S. sanctions list on Thursday. In the event of harsh Western sanctions as Russian forces invade Ukraine, retail customers could risk losing their savings.Russians’ savings could be confiscated in response to sanctions against the country, according to Nikolai Arefiev, a member of the country’s Communist Party and vice-chairman of the Duma’s committee on economic policy.The Russian government can potentially seize about 60 trillion rubles ($750 billion) worth of people’s deposits should....
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