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Russia's International Reserves Jump $10 Bln in Week to $619.7 Bln


Russia's International Reserves Jump $10 Bln in Week to $619.7 Bln

Fri 31 Jan 2025 | 08:05 AM
Taarek Refaat

Russia's international reserves reached $619.7 billion on January 24 of this year, an increase of $10 billion in a week; according to the Russian Central Bank.

The Russian Central Bank said in a statement that international reserves rose by 1.6%, due to positive revaluation, and had reached $609.7 billion on January 17, according to the Russian TASS Agency.

International reserves are highly liquid foreign assets at the disposal of the Russian Central Bank and the Russian government, consisting of foreign currencies, special borrowing rights, the reserve position in the International Monetary Fund, and gold coins.

After the start of the Russian special military operation in Ukraine, Western countries imposed sanctions on the Russian Central Bank, froze Russia's gold and foreign exchange reserves, and imposed sanctions on all transactions related to the management of the Central Bank's reserves and assets, as well as transactions with any legal entity, institution, or body working on behalf of the Central Bank.