A woman stands beside a Russian military billboard in Smolensk, Russia, where people still wanted foreign currency in cash for trips abroad, as well as small imports and domestic savings. Photo: Getty
Around €2.1bn in dollar and euro bills has been shipped to Russia since the United States and EU banned the export of their banknotes there in March 2022 following the invasion of Ukraine, according to customs data seen by Reuters.
The previously unreported figures show Russia has managed to circumvent sanctions blocking cash imports, and suggest that dollars and euros remain useful tools for trade and travel even as Moscow strives to reduce its exposure to hard currencies.
