Long lines have formed at some banks as the ruble continues to plummet and Russians rush to withdraw hard currency. Movie theaters have been forced to cancel the showing of American films, after U.S. studios Disney, Warner and Sony halted the release of films in Russia.
Netflix customers in Russia were unable to pay for their subscriptions with credit cards issued by some Russian banks, including Sberbank, Russia’s largest bank and a target of U.S. sanctions. The problem was soon resolved, according to Netflix.
Some Russians shelved plans to buy a new home after mortgage interest rates more than doubled to 20%. Meanwhile, Russians have started to stock up on products such as foreign medications out of fear they might become scarce or completely run out in the coming weeks and months. Around 55% of Russian medications are imported, according to 2021 data from the DSM Group, a Moscow-based marketing agency that specializes in pharmaceutical market research.
Join the conversation as a VIP Member