Russians rush to ATMs as ruble hits record low over Ukraine war sanctions

Russians are scrambling to withdraw money from ATMs this week as crippling economic sanctions in response to Russia’s invasion of Ukraine prompt the ruble’s value to hit record lows.

The ruble plummeted as much as 30% to 120 per US dollar on Monday — meaning the Russian currency was worth less than 1 cent. The ruble pared some of its losses but was still down 20% to 102 per US dollar as of midday.

Long lines began forming at ATMs on Sunday as Russians braced for the ruble’s collapse by attempting to withdraw foreign currency. The trend occurred amid fears that banks will begin limiting cash withdrawals — or that credit and debit cards could stop functioning entirely... Read More

By: Thomas Barrabi | New York Post