Russian National Wealth Fund reserves plummet by $3.4B in July

By Emre Gurkan Abay

MOSCOW (AA) - The Russian National Wealth Fund’s reserves fell by $3.4 billion to $143.2 billion in July, according to a statement by the Finance Ministry.

The ministry stated that the gross domestic product (GDP) to the National Wealth Fund reserves ratio was 6.4%.

The reserves include assets dominated by the Russian ruble, the Chinese yuan, and gold.

Russia had zeroed its dollar holdings in the National Wealth Fund in July 2021, and the country continued to remove other currencies, such as the British pound sterling and the Chinese yuan assets in 2022, and euro assets in January 2024.


*Writing by Emir Yildirim in Istanbul