the money was in short-term government bonds held as reserves for the Russian central bank. By now, most of the bonds have have matured and turned into cash piling up in custodian banks.

Vladimir Putin is could be attempting to blame the boss of Russia's central bank for the country's economic issues as businesspeople criticise wartime economic policies, reports have suggested.

Originally, the money was in short-term government bonds held as reserves for the Russian central bank. By now, most of the bonds have have matured and turned into cash piling up in custodian banks.