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10 International Reserves of the Russian Federation 1 (millions of US dollars) Of which International of which reserves foreign exchange reserve position gold reserves foreign

Russian reserves to Ukraine. How real is this threat as the reserves were frozen but not seized? What proportion or amount of these reserves is

capital accounts balance 122 145 69 24 Financial account (including change of reserve assets) 123 145 69 24 Net errors and omissions 1 0 0

reserves was smaller than a month earlier. Additionally, banks received 0.7 trillion rubles from the special accounts for required reserves during the required reserves

Last year, we consistently diversified our international reserves. It is crucial for our economy to have diversified reserves. Why? First, like other countries, we are

gold and foreign currency reserves and the dedollarisation of the banking sector’s balance sheets. Specifically, we have been increasing our reserves in gold and

the requirements becoming effective on 1 July 2022 and obliging insurers to reserve capital to cover market and credit risks. Insurers will be allowed to

reserve currencies might be restricted. ‘Today, even though Western countries have frozen our reserves in their currencies, Russia still has a sufficient amount of reserves

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the Bank of Russia Research Advisory Board and external reviewers. All rights reserved. The views expressed in this paper are solely those of the author