Russian elites seek foreign bank accounts as mobilization rumors swirl
Amid speculation of a new Russian mobilization, senior officials and draft office staff are trying to open foreign bank accounts and move assets abroad.
Recent documents reveal that senior Russian officials, along with draft office personnel, have been attempting to establish accounts at foreign banks and transfer their assets abroad. They are reportedly urging friends and family members to exit Russia. These actions coincide with circulating speculation that Moscow could declare a new mobilization after the upcoming State Duma elections, a scenario promoted by Ukrainian authorities and reported in Western outlets.
Ukrainian President Volodymyr Zelensky has suggested that up to 300,000 people might be called up this fall. Kremlin spokesman Dmitry Peskov dismissed the claims as Ukrainian propaganda, while President Vladimir Putin called the reports "utter nonsense" and an "information attack" on Russia.
Why it matters
The asset flight hints at elite distrust in Russia's stability and could affect foreign banking relations.
How this story developed
- Sep 3 Ukraine reports heavy Russian personnel and equipment losses in ongoing war
- Sep 11 Ukrainian intelligence now reports that daily Russian casualties regularly exceed recruitment capacity.
- Sep 12 Russia will hold a tightly-controlled parliamentary election from Sept 18-20, the first since the 2022 invasion and seen as a barometer of support for the war.
- Sep 16 Voting has begun, moving the election from planning to execution.
In this story
Related stories
15 in this thread