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Russia increases its international reserves

Moscow, Aug 22 (Prensa Latina) Russia’s international reserves amounted to 686.5 billion dollars last week, 100 million more than previously achieved thanks to the positive revaluation, the National Bank announced today.

The note, published this Friday on the website of the financial institution recalls that as of August 8, the volume of reserves was 686,400 billion dollars, he said.

International reserves, highly liquid foreign assets available to the Bank and the Russian government, consist of foreign currency funds, special drawing rights, an IMF reserve position and monetary gold.

Following the launch of the Russian special operation in Ukraine, western countries imposed sanctions against the Bank of Russia.

In addition to freezing Russia’s gold and currency reserves, all operations related to the management of the reserves and assets of the Central Bank were banned, as well as transactions with any legal entity, organization or body acting on behalf of, or at the behest of, the financial entity.

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