Payments fail, cash dries up as outage cripples Russia’s biggest banks
Sberbank (Photo: Wikipedia)
A major outage disrupted the systems of Russia’s largest
banks — Sber, VTB, Alfa-Bank and T-Bank — as well as the Central Bank’s Faster
Payments System on April 3, leaving customers unable to make payments, transfer
money or withdraw cash, The
Moscow Times reported.
The outage knocked out basic banking services in several
Russian regions as authorities moved to tighten control over the country’s
digital space, including tougher restrictions on Telegram and VPN use.
Users reportedly said payments and transfers were not going
through, mobile apps were down, card payments in stores were failing, and cash
could not be withdrawn either from ATMs or bank branches. Most complaints came
from Moscow and the surrounding region, Samara and Novosibirsk Oblasts, and St.
Petersburg.
“We sincerely apologize for the inconvenience caused — the
team is already working to restore service as quickly as possible,” Sberbank
said, without specifying the cause of the outage. T-Bank said the problems were
caused by “the impact of external factors.” VTB warned of “possible
restrictions,” including on Moscow Metro fares paid with cards issued by other
banks.
The banking disruption came as Russian authorities prepared
to fully block Telegram in the country in early April and expand measures aimed
at limiting VPN use.
Over the past three days, restrictions on Telegram
reportedly increased from 70% to 80%. Authorities also ordered mobile operators
to impose a 15 GB cap on foreign traffic starting May 1 to curb VPN use.
Russia’s digital ministry also decided to revoke the
accreditation of IT companies that allow access to their services through VPNs.
Digital platforms could also be removed from the “white list” of resources
allowed to keep operating during internet shutdowns.
The outage comes against a backdrop of wider economic strain
in Russia.
Earlier reports said Russia’s oil and gas revenues in 2025
fell to their lowest level since the coronavirus pandemic. Officials have
acknowledged that the federal budget could face a significant shortfall as
early as the beginning of 2026 because of weaker-than-expected oil and gas
income.
Ukrainian intelligence said the financial condition of
medium-sized and large Russian businesses continued to deteriorate, exposing
growing imbalances in the corporate sector.
More than half of Russia’s large companies ended 2025 with
lower profits, cut or froze investment projects, and many are preparing
layoffs.
On Feb. 24, 2026, reports said Russia was preparing to shut
down about 300 companies. For the first time, 74 Russian regions were running
budget deficits at the same time, while Rosstat said more than 17,000
businesses had reported losses.
VkusVill became the first major grocery retailer in Russia
to begin shrinking its store network, closing 286 outlets by the end of 2025.
Magnit, Russia’s largest retail chain by store count, also ended 2025 with a
net loss.
On April 3, 2026, reports also said 22 Russian industries
had fallen sharply into negative territory, while oil prices rose above $140,
hitting an 18-year high.
Will you support Ukraine’s free press?
Dear reader, as all news organizations, we must balance the pressures of delivering timely, accurate, and relevant stories with requirements to fund our business operations.
As a Ukrainian-based media, we also have another responsibility – to amplify Ukraine’s voice to the world during the crucial moment of its existence as a political nation.
It’s the support of our readers that lets us continue doing our job. We keep our essential reporting free because we believe in our ultimate purpose: an independent, democratic Ukraine.
If you’re willing to support Ukraine, consider subscribing to our Patreon starting from 5$ per month. We are immensely grateful.
Please help us continue fighting Russian propaganda.
Truth can be hard to tell from fiction these days. Every viewpoint has its audience of backers and supporters, no matter how absurd.
If conscious disinformation is reinforced by state propaganda apparatus and budget, its outcomes may become deadly.
There is no solution to this, other than independent, honest, and accurate reporting.
We remain committed to empowering the Ukrainian voice to push against the muck. If you’re willing to stand up for the truth – consider supporting us on Patreon starting from 5$ per month. Thank you very much.
Will you help tell Ukraine’s story to the world?
Twenty years ago, most people hadn’t even heard of Ukraine. Today, the country is on everyone’s lips and everyone’s headlines. War pushed us on the front page. But there are many other things we do that we are proud of – from music and culture to technology.
We need your help to tell the world Ukrainian story of resilience, joy, and survival. If you’re willing to back our effort, consider supporting us on Patreon starting from 5$ per month. We are immensely grateful.
Follow us on Twitter, Facebook and Google News
