diff --git a/Misc/NEWS.d/next/Library/2026-06-23-15-02-27.gh-issue-152017.wH89hr.rst b/Misc/NEWS.d/next/Library/2026-06-23-15-02-27.gh-issue-152017.wH89hr.rst
new file mode 100644
index 000000000000000..b903e39d6215054
--- /dev/null
+++ b/Misc/NEWS.d/next/Library/2026-06-23-15-02-27.gh-issue-152017.wH89hr.rst
@@ -0,0 +1 @@
+:class:`collections.deque` no longer suppresses :exc:`MemoryError` in certain cases.
diff --git a/Modules/_collectionsmodule.c b/Modules/_collectionsmodule.c
index 0626cc6a70bc8f7..3e20a79044216a0 100644
--- a/Modules/_collectionsmodule.c
+++ b/Modules/_collectionsmodule.c
@@ -744,9 +744,10 @@ deque_clear(PyObject *self)
        adversary could cause it to never terminate).
     */
 
+    PyObject *old_exc = PyErr_GetRaisedException();
     b = newblock(deque);
+    PyErr_SetRaisedException(old_exc);
     if (b == NULL) {
-        PyErr_Clear();
         goto alternate_method;
     }