Russia Raises Deposit Insurance Limit to 2M Rubles in First Reading

The Russian State Duma passed in the first reading a bill raising the insurance compensation limit for long-term ruble deposits and non-withdrawable savings certificates to 2 million rubles, and increasing escrow account coverage to 30 million rubles. This is a policy move aimed at bolstering confidence in the banking system and encouraging long-term savings, likely in response to ongoing financial pressures. The measure is still subject to further readings and approval, so its final form and implementation timeline remain uncertain.