Russia has managed to keep a “shadow reserve” of $80 billion abroad, invested in real estate or invested in foreign companies. In this respect informs Bloomberg.
Bloomberg analysts said that $80 billion is “shadow reserves” resulting from Russia’s record $227 billion current account surplus. In total, Russia managed to accumulate the equivalent of about 5% of GDP in international assets in 2022.
Market experts agree that Europe’s delay of sanctions on Russia’s energy sector has resulted in a record current account surplus on the Russian side. At the same time, the accumulation of international assets became a necessary measure, as the Russian government relaxed the rules for creating foreign assets by companies to stabilize domestic inflation.
The article states that currently the European Union has frozen more than 20.9 billion euros in the assets of Russian citizens under sanctions. At the same time, they plan to freeze another 115 billion Euros.
On February 21, Russian President Vladimir Putin addressed the Federal Assembly. declarationDue to the strong balance of payments of the Russian Federation, there is no need to borrow from abroad. Putin emphasized that at the moment, the banks of the Russian Federation are stable and stable and have a good margin of safety.
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.