google.com, pub-9501031967421588, DIRECT, f08c47fec0942fa0 ‘The damage is done’: Russians face economic point of no return ~ Bharath Bulletin

Monday, February 28, 2022

‘The damage is done’: Russians face economic point of no return

Shoppers and business people express despair and disillusion as sanctions cause run on rouble

As markets opened in a panic on Monday, many Russians rushed to local cashpoints in Moscow to retrieve their savings before the damage got any worse.

“It said they had dollars so I came here immediately,” said Alexei Presnyakov, 32, pointing to an app for Russia’s Tinkoff Bank, indicating he could withdraw hard currency. About 20 people were queued in line. “Yesterday [the rate] was 80 [to the dollar]. Today it’s 100. Or 150.”

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