Russia’s international reserves fell by 2.2% in the past
Russia’s international reserves as of May 1 income of $593.052 billion against 606.4 billion as of April 1, story at the Bank of Russia. This is 2.2% (or $13,357 billion) less than in April.
The international (gold and foreign exchange) reserves of the Russian Federation have highly liquid foreign assets at the disposal of the Central Bank and restrictions. They are included in monetary gold, special right of return (SDR), reserve position in the IMF, and foreign currency holdings (other reserve assets).
After the start of Russia’s special operations in Ukraine, Western countries introduced against Russia, including freezing about half of its gold and foreign exchange reserves, in the amount of about $300 billion. The head of the regulator, Elvira Nabiullina, said that the Central Bank is preparing measures to protect frozen reserves in the United States in case of any development situation.
After that, the Ministry of Finance announced that it increased payments on external debt several times. Funds are debited from the frozen accounts of the Central Bank in American financial institutions. At the end of April, the Russian Ministry of Finance announced that it had paid coupon income and increased the face value on Eurobonds of issue No. 12840060V Russia-2022, and also paid a coupon on Eurobonds of issue No. million, respectively, in US dollars.