Economy, Europe

Russia's National Wealth Fund reserves down $11.7B

Ratio of fund reserves to Russian GDP at 6.2%

Emre Gurkan Abay  | 16.01.2025 - Update : 16.01.2025
Russia's National Wealth Fund reserves down $11.7B

MOSCOW

Russia's National Wealth Fund reserves fell by 1.22 trillion rubles (some $11.7 billion) in December 2024 compared to the previous month to 11.88 trillion rubles (around $116 billion).

The Russian Finance Ministry reported that the ratio of reserves to the country's gross domestic product was 6.2%.

The country's National Wealth Fund includes ruble, gold, and Chinese yuan-denominated assets.

Russia removed its US dollar assets from the fund in July 2021, British pound and Japanese yen assets in 2022, and euro assets last January – all in the face of Western alliance sanctions on Russia, including over the Ukraine war, which it launched in February 2022.


*Writing by Gokhan Ergocun from Istanbul



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