Russia’s international reserves fell by $6.6 billion over the week

Bank of Russia reported about the country’s international reserves. From August 12 to 19, they decreased by $6.6 billion and amounted to $574 billion (a week earlier it was $580.6 billion). The contraction came after four weeks of growth.

From July 15 to August 12, international reserves grew (from $565.3 billion to $580.6 billion). The last time they decreased was during the week from July 8 to July 15 ($572.7 billion compared to $586.8 billion earlier). Last time they showed growth for four weeks from March 25 to April 15 ($604.4 billion to $607.1 billion). On February 25, international reserves were at $629.4 billion.

After the start of Russia’s military operation in Ukraine and the sanctions that followed it, about $300 billion of gold and foreign exchange reserves were frozen. Analysts believethat by the end of 2022, Russia’s balance of payments account surplus could reach $250 billion, which is comparable to the volume of frozen reserves.

Anastasia Larina