Russia's National Welfare Fund reserves rise to $162.4B

By Emre Gurkan Abay

MOSCOW (AA) - Russia's National Welfare Fund reserves rose by 0.45% on a monthly basis in August to 13.14 trillion rubles ($162.4 billion), the country’s Finance Ministry said.

A ministry statement said that the ratio of reserves to the country's GDP stood at 5.9%.

The Russian National Welfare Fund holds assets in rubles, gold, and yuan.

Russia had zeroed out its dollar assets in the National Welfare Fund in July 2021, its sterling and yen assets in 2022, and its euro assets in January 2024.