Since Putin’s War in Ukraine Began, Russians have been Buying More Safes, Guns and Ammunition, Dealers Say

Paul Goble

            Staunton, Mar. 23 – Since Vladimir Putin launched his expanded invasion of Ukraine, Russians have responded by purchasing more safes to protect their valuables and more guns and ammunition to protect themselves, according to an RBC survey of retail dealers in such things (rbc.ru/business/23/03/2022/623324609a794755e58a6f54).

            The retailers connect the increase in demand for safes with uncertainty about exchange rates and the banking system, things that have prompted Russians to keep more cash at home, and the increase in demand for guns and ammunition with concerns that imports of these things will be cut off, something that will lead to price increases for domestically produced alternatives.

            Such explanations seem reasonable, but they cannot be welcomed by the Kremlin. On the one hand, the retention of hard currency in private hands will create a situation in which the banking system will be far less capable of ensuring stability not only of exchange rates but of interest rates.

            And on the other, increased arms purchases means that more Russians will have guns and ammunition and may use them against other Russians or against the authorities, possibilities that even if small now could grow and will have to be taken into consideration by the authorities before taking a variety of actions likely to be unpopular.