Queues had already formed in front of banks in many cities over the past few days: Concerned about Western sanctions and their savings, people want to get cash. In the meantime, the first ATMs no longer dispense money, and mobile payment systems no longer work properly due to the boycott of Mastercard and Visa. Payment with Apple Pay, Google Pay and Samsung Pay also no longer works, as this is usually carried out by VTB Bank, which is affected by the sanctions.
On Wednesday, the Central Bank of Russia said it would set a limit of US$5,000 per month for foreigners from certain states who do not have their own bank account.
Due to the fall in prices, some supermarkets have already started labeling new prices. Technology products such as mobile phones are currently in particularly high demand due to the expected price increases. Since Russia is a very import-oriented country, experts fear a general drop in living standards in the coming weeks. Supply chain disruptions and factory production problems cannot be ruled out either.