Russia’s international reserves increased by $15.046 billion over the month
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Bank of Russia reported about the country’s international reserves. As of February 1, 2023, they amounted to $597.035 billion. Compared to January, international reserves increased by $15.046 billion (+2.59%).
As of February 1, 2022, international reserves amounted to $630.207 billion. Thus, the volume of Russia’s international reserves decreased by $33.172 billion, or 5.6%, over the year.
After the start of Russia’s military operation in Ukraine, the European Union (EU) imposed sanctions on the Bank of Russia. As a result, almost half of the gold and foreign exchange reserves of the Central Bank of the Russian Federation were frozen – $ 300 billion out of $ 640 billion. The EU intends to prepare a general bloc agreement that will spell out how to dispose of the frozen reserves of the Central Bank, as well as the assets of individuals. At the same time, at the end of last year, the analytical center at NATO noted that the United States and the EU countries have not yet been able to fully implement plans to seize Russia’s foreign exchange reserves. According to him estimatedThe West managed to confiscate only $80-100 billion of the total frozen assets.
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