Russia’s international reserves fell by $4.5 billion over the week
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As of September 9, Russia’s international reserves amounted to $557.4 billion. Over the week, their volume decreased by 0.8%, or by $4.5 billion, “under the influence of negative revaluation”, informed Central Bank. As of September 2, they amounted to $561.9 billion.
International reserves consist of foreign currency funds, special drawing rights, reserve position in the IMF, and monetary gold. About half of the gold and foreign exchange reserves in the amount of $ 300 billion were frozen due to sanctions imposed on Russia after the start of the military operation in Ukraine.
The volume of international reserves of the Russian Federation reached its maximum value on January 1, 2022. Then they amounted to $ 630 billion. On February 18, the volume of reserves reached a historical maximum – $ 643.2 billion, and then began to decline. In March, Finance Minister Anatoly Siluanov informedthat half of Russia’s gold and foreign exchange reserves ($300 billion out of $640 billion) were frozen due to sanctions.
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