Russia's International Reserves Increased to $606.5 Billion in a Week
OREANDA-NEWS The international reserves of the Russian Federation for the week increased by $2.1 billion and amounted to $606.5 billion as of April 1. As stated in the materials of the Bank of Russia, on March 25, the amount of reserves was $604.4 billion. Thus, the indicator increased by $2.1 billion.
International reserves as of April 1 amounted to $606.5 billion, an increase of $2.1 billion, or 0.3%, over the week, the regulator said in a statement. It is noted that on February 18, reserves were estimated at $643.2 billion.
Earlier, the head of the Ministry of Finance of the Russian Federation Anton Siluanov said that during international sanctions, almost half of the total volume of Russia's state reserves — $300 billion — was blocked. However, he assured that the Russian Federation will not refuse to fulfill its obligations on the state debt and will repay it in rubles until the unfreezing of gold and foreign exchange reserves.
Siluanov regarded the freezing of the gold and foreign exchange reserves of the Russian Federation as a declaration by the West of default on obligations to Russia. He also added that by imposing sanctions, Western countries have launched, in fact, a financial and economic war against the Russian Federation.