According to the financial regulator, the decrease is equivalent to 13.357 billion dollars. In 2021, at the close of May 1, these funds comprised 590.476 billion dollars.

Such high liquid assets are held by the Central Bank and the Government, they include funds denominated in foreign currency, special drawing rights, reserve position in the International Monetary Fund and monetary gold.

Shortly after the start of Russia’s military operation in Ukraine, Central Bank President Elvira Nabiullina stated that about $300 billion of the country’s foreign currency reserves were frozen as part of the more than 800 sanctions implemented by the West against Russia.

In addition to that measure, all transactions related to the management of that regulator’s reserves and assets and with any entity and organization on behalf of or on behalf of the Central Bank were banned.

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