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EU sanctions not to impact availability of National Welfare Fund’s assets

All planned investments from the Fund will be made routinely, the press service of the Russian finance ministry said

MOSCOW, February 26. /TASS/. The European Union’s sanctions against Russia’s National Welfare Fund will not tell on the availability of its funds for the Russian government, the press service of the Russian finance ministry said on Sunday.

"The new restrictions will not impair the availability of the National Welfare Fund’s money for the Russian government. All planned investments from the Fund will be made routinely," it said.

The European Union earlier agreed the tenth package of anti-Russian sanctions, which cover Russia’s National Welfare Fund. The Russian finance ministry said in early February that the Fund’s deposits with the Bank of Russia have 10.46 billion euro, 307.44 billion yuan, 551.27 tons of gold, and 530.1 million rubles.

According to Deputy Finance Minister Vladimir Kolychev, the share of euro in the Fund’s assets will be reduced to zero in 2023.

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