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Russia’s international reserves down 1.95% to $565.7 bln in August

Governor of the Bank of Russia Elvira Nabiullina said earlier that around $300 bln worth of gold and foreign currency reserves of the Russian Federation were frozen as a result of western sanctions

MOSCOW, September 7. /TASS/. Russia’s international reserves as of September 1, 2022, amounted to $565.66 bln, which is 1.95% (or $11.244 bln) lower than at the beginning of August, the Bank of Russia said.

As of September 1, 2021, international reserves amounted to $618.181 bln.

Russia’s international reserves are highly liquid foreign assets available with the Bank of Russia and the Russian government. They comprise foreign currency, Special Drawing Rights (SDRs), a reserve position in the International Monetary Fund and monetary gold.

Governor of the Bank of Russia Elvira Nabiullina said earlier that around $300 bln worth of gold and foreign currency reserves of the Russian Federation were frozen as a result of western sanctions.

Following the start of Moscow’s special military operation in Ukraine western countries slapped sanctions against the Bank of Russia. Apart from freezing Russia’s gold and foreign currency reserves, all transactions related to management of the regulator’s reserves and assets, as well as transactions with any legal entity, organization or body acting on behalf or at the direction of the Bank of Russia, were prohibited.

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