Support The Moscow Times!

Sberbank Savings Payback

The government increased the amount it will spend this year to compensate depositors whose savings in Sberbank were wiped out after the Soviet Union collapsed, Finance Minister Alexei Kudrin said Thursday.   

Russia will spend 115 billion rubles ($3.7 billion) this year, compared with an earlier planned 85 billion rubles, Kudrin said at a government meeting.

(Bloomberg)


Read more

The need for honest and objective information on Russia is more relevant now than ever before!

To keep our newsroom in Moscow running, we need your support.