Rush for Soviet cash kills two in Ukraine

Two people have died in Ukraine after thousands of people queued for compensation at banks across the country. It followed the government's decision to start paying people who lost their savings after the collapse of the Soviet Union eighteen years ago.

A man died of a heart attack after he spent hours in a queue. In another incident, the head of a bank in the capital Kiev was beaten to death when she tried to calm a crowd.

More than 17 years after the collapse of the Soviet Union, there are new queues in the Ukrainian capital Kiev. Reminiscent of days gone by, these lines are not for food but rather for cash.

Thousands of Ukrainians flocked to banks to be compensated for savings they lost in the chaos following the break-up of the Soviet Union.

However, the sheer demand for cash meant only some people were able to get their money from Oschadbank.

Timoshenko has promised to pay $ US 1.2 billion this year out of an estimated $ US 26 billion owed to Ukrainians.

The government has also offered non-cash payments in the form of vouchers to pay utility bills or some consumer goods.

Ukrainians will get up to $ US 200 for money they had stashed away in Soviet times. For many, this is inadequate compensation for a lifetime of lost savings.

But it is an important gesture to restore confidence in the country's new leadership.

"We have to get even something from them! Before, we had roubles - which were expensive. And now we are getting hryvnias [Ukrainian national currency]. But we have to get money anyway," says one of the bank customers.

Some experts say the move will restore the citizens' trust in the government and benefit needy pensioners and lowly-paid government workers.

Other analysts have dismissed the measure as a populist move that will bust the country's budget and further increase already high inflation.

Former Soviet Republics, Lithuania and Kazakhstan have already returned some or almost all of Soviet-era savings to their citizens. ( RT )

Employment in Iran's Zanjan Province increases
Employment in Iran's Zanjan Province increases
Wheat cultivation increases in Iran
Wheat cultivation increases in Iran
Number of enterprises launched in Iran's Khuzestan Province grows
Number of enterprises launched in Iran's Khuzestan Province grows
Loading Bars
Latest
Projects linking Turkmenistan with South Caucasus may be of great interest to Belgium - ambassador
Georgia sees increase in persimmon and caraway seeds export
Uzbekistan meets criteria for participation in GSP+, EU commission says
Kazakhstan-based ArcelorMittal Temirtau JSC looks to expand export supplies
Azerbaijan increases production of construction materials
BP PETROLLERİ A.S. reduces aviation fuels exports
First VP Mehriban Aliyeva congratulates Azerbaijani people on liberation of Lachin (PHOTO)
Georgia sees increase in volume of overdue loans
Kazakhstan, Russia eye increasing mutual flights
SHELL & TURCAS PETROL A.S. reduces petroleum products’ sales in Turkey
UK retailer Debenhams to be liquidated
Pfizer-BioNTech seek EU emergency approval for COVID-19 vaccine, target December rollout
Iran reveals its COVID-19 data for December 1
Georgian Stock Exchange launches debut depositary notes
Ukraine to launch new flights to Azerbaijan
Employment in Iran's Zanjan Province increases
Uzbek-Korean JV announces tender for spare parts
Gas supply projects for Kazakh cities to help improve social conditions of citizens
Azerbaijanis in Switzerland protest against 'Le Temps' newspaper of succumbing to Armenian provocation
Wheat cultivation increases in Iran
OPEC+ likely to reach compromise to delay increase in production
Give city of Marseille to Armenians, change its name, create second state for them there - President Aliyev to French Senate
Baku Textile Factory to produce millions of face masks during December 2020
Total amount of transactions on Turkmen State Commodity Exchange for November 2020
Georgia reports 3,759 new cases of coronavirus
We are back Lachin! - Azerbaijani Foreign Ministry
EU supports Georgia in strengthening electricity market reforms
Pensions to increase in Georgia from January 1
Singapore Cooperation Enterprise to support e-commerce dev't in Kazakhstan
Azerbaijan confirms 4,426 new COVID-19 cases, 1,995 recoveries
Azerbaijan's volume of deposits in national currency edges up
Iranian gov't has one-month deadline to suspend implementation of NPT Additional Protocol
Current average cotton yield in Azerbaijan exceeds last year's - Agriculture Ministry
Import of defense industry products by Georgia from Turkey up
More private Turkmen companies manufacture dairy products
Uzbekneftegaz JSC opens tender for IT services
Pilot cargo transportation between Uzbekistan, Kazakhstan carried out via digital procedure
Uzbekistan's Kafolat Insurance Company shows solid financial performance amid coronavirus lockdowns
Georgian Phazis Oil Company implementing Kulevi high-technology oil refinery project
AzerTelecom’s digital infrastructure project along bottom of Caspian Sea discussed at “Turkmentel 2020” conference (PHOTO)
Azerbaijan establishing connection with its integral part, Nakhchivan. Azerbaijan connects with Turkey - President Aliyev
People living in Nagorno-Karabakh today are citizens of Azerbaijan - President Aliyev
We are demonstrating to whole world that we are great, invincible people - President Aliyev
A new era begins for our country - President of Azerbaijan
I wonder what conditions Pashinyan can put forward today and who he can put forward those seven conditions to - President Aliyev
Armenia, you are a dead end. We made you a dead end - President of Azerbaijan
Festive procession in Baku in connection with liberation of Azerbaijan’s Lachin district (PHOTO)
Activities of Iran's Arak nuclear reactor to restore soon
President Aliyev comments on implementation of statement signed on 10 November
Lachin corridor passes through city of Lachin, therefore, we propose to build new corridor - President Aliyev
Khazar Consortium opens tender for maintenance in Turkmenistan
Lachin residents visit Alley of Martyrs in Azerbaijan’s Baku (PHOTO)
In matter of 44 days, we destroyed equipment Armenia been collecting for 30 years - President Aliyev
Activity of Azerbaijani users on Facebook greatly increases
President Aliyev names destroyed, taken as spoils of war equipment of Armenian army
Azerbaijani banks increase demand for foreign currency
Half of Armenia’s wheat harvest came from our lands - President of Azerbaijan
Azerbaijan decreases value of copper products import in 10M2020
Armenia did not want to return single centimeter of land to us - President of Azerbaijan
Unlike Armenian leadership, we have strategic vision - President of Azerbaijan
Number of enterprises launched in Iran's Khuzestan Province grows
Initial version of statement suggested that width of Lachin corridor should be 30 kilometers, I was categorically against this - President Aliyev
Nagorno-Karabakh conflict is gone - President of Azerbaijan
When Lachin district was occupied, there was struggle for power in Baku - President of Azerbaijan
Gold price in Azerbaijan up
Armenia had no other option – either to be completely destroyed or to sign act of surrender - President of Azerbaijan
Georgia discusses assistance package with international financial institutions
Iran’s NICICO boosts capital
Android operating system's share in Azerbaijani market grows
Azerbaijan's GDP in non-oil sector grows
Azerbaijan recorded rapid development of payment ecosystem - Association of Banks
Armenia either had to be completely destroyed or sign it. What do others care about that? - President Aliyev
New reality emerged in our region, Azerbaijan created this reality - President Aliyev
If someone wants to interfere with statement signed on 10 November, they will be faced with our tough position - President Aliyev
I always said that if Lachin, Kalbajar and Shusha did not return to Azerbaijan, then there can be no agreement - President Aliyev
Armenian side believed that entire Lachin district should be given to them as corridor, unfortunately, some Western circles supported this position - President Aliyev
Iran's parliament approves plan to lift sanctions
Uzbekistan prepares new strategy to tackle corruption, shadow economy
Iran's export to Afghanistan increases
Famous chocolate manufacturing company enters Georgian market
Turkmenistan takes its citizens out of Turkey on charter flight due to COVID-19
Softbank buys 10.1% stake in Sweden's Sinch
Google Chrome continues to be most popular web browser in Azerbaijan
Uzbek Finance Ministry names largest taxpayers in 2021
Lachin corridor cleared of Armenian occupying forces - President of Azerbaijan
Amazon brings macOS to cloud in a boost to Apple app developers
Most of our forests remain intact because enemy could not get into these forests - President of Azerbaijan
We will try to return former internally displaced persons to all districts liberated from occupation as soon as possible - President Aliyev
Iran implements plan on offshore fish farming
Turkmenistan's Institute of Chemistry working on multiple areas of research
USAID assists Uzbekistan in joining International Plant Protection Convention
Azerbaijani entrepreneurs invited to partake in 'Time to Export' forum
World crude and non-conventional oil imports up
Turkey records decline in volume of Trabzon Airport's cargo, passenger traffic
Azerbaijani tricolor flag flying again in Lachin - Speaker of parliament
SOFAZ reduces volume of currency sold at auctions
Turkey raises value of trade with Turkmenistan within 10M2020
Azerbaijan increases exports of precious stones, natural pearls
President Aliyev congratulates Azerbaijani people on liberation of Lachin district
Azerbaijan expects to produce even more dry tobacco
All news