Echoes of the 1990s in Ukraine as financial crisis bites


KIEV (Reuters) - A crippling financial crisis in Ukraine is turning the clock back to the 1990s, when people kept dollars in their socks rather than at banks and smuggled cars to sell them on the black market and avoid the tax man.

When the Soviet Union collapsed in 1991, leaving the command economy in tatters, many in the newly independent republics such as Ukraine were left to fend for themselves, using guile to seek out goods and services and navigate the new capitalist reality.

Play, subscribe and stand a chance to win prizes worth over RM39,000! T&C applies.

Monthly Plan

RM 13.90/month

RM 11.12/month

Billed as RM 11.12 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 9.87/month

Billed as RM 118.40 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In World

Russia's budget deficit widens in Q1 2026
Libya announces new oil, gas discovery
Over 1,530 people killed in Lebanon since recent escalation: UN official
U.S. stocks close higher
Paraguay president taps Oscar Lovera as economy minister
Mexico Senate confirms North America diplomat Velasco as foreign minister
Crude futures settle lower
U.S. dollar ticks down
Azerbaijani, Iranian FMs hold talks on U.S.-Iran ceasefire
Handover ceremony held between Chinese medical teams in Tanzania

Others Also Read