russia urges citizens to “lend” their savings to the state.
russia’s deputy finance minister has urged citizens to buy federal loan bonds (OFZ) and gold instead of foreign currency. This is being presented as a “reliable savings tool,” but in reality, it’s an attempt to patch up the record budget deficit and keep funding the war at the expense of ordinary russians.
▫️ According to the kremlin’s plan, budget gaps will be covered through debt: from 2025 to 2028, the ministry of finance intends to increase state borrowing by trillions of rubles annually, while war spending continues to rise and revenues shrink under sanctions. OFZ bonds have become critical for the regime — the more people “invest” in them, the longer the Kremlin can prolong its war.
▫️ Encouraging citizens to move their savings into government debt, abandon foreign currency, and “hold gold” reflects elements of a mobilized economy and growing financial pressure on the population. The risks for investors include inflation, currency restrictions, potential asset freezes, and tighter control over private funds. The formula is simple: “everything for the front” — at the cost of citizens’ own well-being.
As oil and gas revenues decline, the russian government is desperately searching for resources to continue its war — proving it has no intention of ending it. The new call to buy OFZ bonds is another way of funneling people’s money into the kremlin’s war machine.
Earlier, the Center reported on massive cuts to enlistment bonuses across russian regions and the growing reliance on debt financing for the war, which has already led to freezes in the pension fund.
