Select date
Bank Runs Begin in Crimea as Threat of Economic Sanctions Grow
by The Silver Bug, Sprott:
The Ukraine’s largest bank, Oshad, is in trouble. Bank runs have begun in earnest as the citizens of Crimea await the results of Sunday’s referendum to join Russia.
These bank runs come amidst growing tensions between Russia and Western leaders. The West is threatening economic sanctions and Russia is firing back with warnings of retaliation. The result, a growing gridlock for those stuck in the middle: the citizens of Crimea.
Oleh Serha, a spokesman for Ukraine’s Privat Bank had the following to say:
