“Instead of the future, there is debt”: Russians are drowning in overdue loans

Ordinary Russians are massively defaulting on their credit card debts. Payments on 8.3 million credit cards are overdue for more than three months.

This was reported by the Center for Countering Disinformation.

Credit card payments are at their worst in years in Russia, and the number is steadily rising. Just a year ago, there were almost 7 million overdue credit cards in the Russian Federation.

The total amount of overdue debt of Russians at the end of May 2025 amounted to almost 576 billion rubles, which is 150 billion rubles more than in the same period in 2024.

“People are not paying either on old debts or new ones – in January, the number of clients who did not pay card debts for more than a month was 2.35 million people. Analysts predict that by the end of the first half of 2025, the number of such defaulters will increase to 3.84 million, which will be a record in this banking segment,” the Center for Countering Disinformation noted.

The CSD noted that the increase in defaults on credit cards in Russia is further evidence that the Russian economy is at a standstill. After all, the insane spending on war and sanctions are destroying not only the economy, but also the lives of ordinary Russians.

“Instead of the future, there is debt, instead of prosperity, there is arrears. And as long as the war continues, the situation for Russian citizens will only worsen,” the CPR added.

It was previously reported that by April 2026, if current economic trends continue, a banking collapse could occur in Russia .

As reported by the Center for Countering Disinformation, Russia has significantly reduced funding for science, industry, and innovation due to falling oil revenues and a budget deficit.

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