Russians are diverting their money into black-market dollars and foreign bank accounts due to economic uncertainty stemming from the war in Ukraine. Russian households' deposits in foreign banks have more than doubled since the war began, reaching 5.4 trillion rubles ($67.3 billion) in April. The monthly inflow of rubles into offshore foreign-currency accounts is now over five times higher than prewar levels. Russians resort to informal currency traders, neighboring countries' banking systems, and cryptocurrencies to move their money abroad. Many Russians, including men avoiding the draft, have left the country with their money, while some companies have relocated abroad.
