Economy

Russia's international reserves decline 2.2% in April

Total volume of reserves falls $13.4B from previous month amid Western sanctions over Ukraine war

Ovunc Kutlu   | 11.05.2022
Russia's international reserves decline 2.2% in April Central Bank of Russia ( FILE PHOTO - Anadolu Agency )

ANKARA

Russia's international reserves declined 2.2% in April compared to the previous month, according to data released on Wednesday by the Russian Central Bank.

The total volume of Russia's international reserves fell to $593 billion last month, the data showed.

This marked a decline of $13.4 billion, or 2.2%, from the March level of $606.4 billion.

Russia's international reserves include foreign currencies, foreign-denominated bonds, gold reserves, and IMF reserve positions.

Around half of Moscow's access to those international reserves abroad has been frozen due to its war on Ukraine.

The total volume of Russia's international reserves stood at more than $630.2 billion as of Feb. 1, before western sanctions hit Moscow due to the war.​​​​​​​

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