Russia’s international reserves totaled $580.6 bln as of August 12, 2022, up by 1.01% (or $5.8 bln) in one week, the Central Bank reported on Thursday.
"International reserves amounted to $580.6 bln as of August 12, up by $5.8 bln in one week due to positive revaluation," the report said.
As of August 5, 2022, the international reserves amounted to $574.8 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.
Central Bank Governor Elvira Nabiullina said earlier that around $300 bln worth of gold and foreign currency reserves of the Russian Federation were frozen as a result of western sanctions.
Following the start 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.
