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7/8/2025, 5:12:10 AM
>>509787010
>2 thirds of Niabulina's gold reserve gone
This isn't correct. The sovereign wealth fund is a separate pile of money to the Central Bank's reserves.
There are now 212 metric tons of gold in the NWF as of the start of July. This is an increase because of the midsummer excess oil profit transfer from all of 2024.
As for central bank reserves, these are actually pretty high. Look here for an out-of-date table to see how Russia used to stack up against the rest of the world. N.B. About $300B is frozen by Ukraine's allies, and over $200B of that is frozen by just Belgium.
https://en.wikipedia.org/wiki/List_of_countries_by_foreign-exchange_reserves
The remaining ~$400B that is 'unfrozen' and in Moscow is mostly gold. About $250B worth of gold, or ~2.3k metric tonnes, is in reserve at the Russian central bank. I believe the remaining $150B is Chinese Yuan. Central bank reserves are not fiscal buffers btw unlike the sovereign wealth fund, they exist for the purpose of supporting the value of the ruble as well as being an emergency buffer in the case of systemic banking collapse.
Having such a large amount in reserve, and being a top 10 country for reserves even after frozen assets are taken into account, shows the central bank's insurance policy is robust but also shows the anticipated risk to the Russian banking system. Other countries don't need to have such a high amount in reserve because risk is very low.
>2 thirds of Niabulina's gold reserve gone
This isn't correct. The sovereign wealth fund is a separate pile of money to the Central Bank's reserves.
There are now 212 metric tons of gold in the NWF as of the start of July. This is an increase because of the midsummer excess oil profit transfer from all of 2024.
As for central bank reserves, these are actually pretty high. Look here for an out-of-date table to see how Russia used to stack up against the rest of the world. N.B. About $300B is frozen by Ukraine's allies, and over $200B of that is frozen by just Belgium.
https://en.wikipedia.org/wiki/List_of_countries_by_foreign-exchange_reserves
The remaining ~$400B that is 'unfrozen' and in Moscow is mostly gold. About $250B worth of gold, or ~2.3k metric tonnes, is in reserve at the Russian central bank. I believe the remaining $150B is Chinese Yuan. Central bank reserves are not fiscal buffers btw unlike the sovereign wealth fund, they exist for the purpose of supporting the value of the ruble as well as being an emergency buffer in the case of systemic banking collapse.
Having such a large amount in reserve, and being a top 10 country for reserves even after frozen assets are taken into account, shows the central bank's insurance policy is robust but also shows the anticipated risk to the Russian banking system. Other countries don't need to have such a high amount in reserve because risk is very low.
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