MOSCOW, June 7. /TASS/. Russia’s international reserves as of June 1, 2024, reached $599.04 bln, which is 0.19% (or $1.129 bln) higher than the figure at the beginning of May, the Bank of Russia said in a statement.

As of June 1, 2023, Russia’s international reserves amounted to $584.175 bln.

The regulator noted that foreign exchange reserves in May increased by 0.27% to $423.163 bln and the value of monetary gold in reserves decreased over the month by 0.01% and amounted to $175.877 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. Following the onset 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 Central Bank, were prohibited.