Russia’s international reserves are back to over $600bn

[MeFishToo]

Russia's economy is based on GOLD reserves, being the most sanctioned country on the planet, Russia has proven to the world that the West's economic warfare can and will be checked and stopped.

USD is sinking fast and more countries are moving in the direction of the BRICS.

This means Russias economy is based on gold worth 130 Bn dollars. That is like 40% of the state budget.. The ruble is not pegged to gold.

 

[Mohsin A]

@beijingwalker - this mmr guy evidently has a screw loose in his head. A demented individual. Definitely a by-product of trying too hard to please his western masters and getting 2 cents in return. A typical brown sahib who would go to depths deeper than known to man to please his white masters.
Go easy on him....lol!

 

[Dalit]

Well done Russia.

 

[beijingwalker]

@beijingwalker - this mmr guy evidently has a screw loose in his head. A demented individual. Definitely a by-product of trying too hard to please his western masters and getting 2 cents in return. A typical brown sahib who would go to depths deeper than known to man to please his white masters.
Go easy on him....lol!

I always know, just teased him for a while.

 

[Nasr]

This means Russias economy is based on gold worth 130 Bn dollars. That is like 40% of the state budget.. The ruble is not pegged to gold.

If you continue to fixate on the "foaming at their mouths" Western MSM, then I guess you would be clueless to the fact that Russia has pegged its national currency to Gold.

By pegging gold to the ruble, Russia has just wiped out the dollar’s clout from the world markets

The ensuing decision of forcing EU nations to pay in ruble or gold for their gas trade with Russia have simply turned the table on the West.

tfiglobalnews.com

 

[Viet]

Russia’s international reserves are back to over $600bn​

Russia's gross international reserves are back over $600bn for the first time since the war in Ukraine started. / bne IntelliNews

By Ben Aris in Berlin April 13, 2023

Russia’s international reserves increased by 1.2%, or $6.9bn, in one week to top $600bn for the first time since the war in Ukraine started, the Central Bank said in a statement on April 13. (chart)
"International reserves amounted to $600.8bn as of April 7, up by $6.9bn, or by 1.2%, in one week as a result of positive revaluation," the Central Bank of Russia (CBR) said.

Russia’s international reserves are highly liquid foreign assets available through the CBR and the Russian government. They comprise foreign currency, Special Drawing Rights (SDRs), a reserve position in the International Monetary Fund and monetary gold.

Previously the CBR held a basket of currencies but in the last year it sold off all its dollars and is in the process of selling off the Japanese yen, pounds sterling and euros that were also part of the basket. By the end of this year the regulator says the reserves will be entirely made up of Chinese yuan (60%) and gold (40%).

Russia’s reserves fell from an all-time high of $631bn in December 2021 and were down to $605bn as of March last year at the start of the war.

Following the imposition of extreme sanctions by the West, the reserves fell further to a low of $540bn in September 2022, but since then have started to recover after Russia successfully switched its oil export trade from Europe to Asia, with India and China taking up almost all the slack, earning the country a record-high current account surplus of $227bn in 2022.

Oil and gas revenues crashed again in December and January as fresh oil sanctions on crude came into effect on December 5 and on refined products on February 5.

However, the Ministry of Finance is confident that oil and gas revenues will recover in the second half of this year and the budget deficit will remain at about 2% of GDP, but analysts are less certain, expecting a deficit of some 4%.

In related news, not only are Russia's reserves rising, but its debt is falling.

The Russian foreign debt stood at $357.9bn as of April 1, 2023, the Central Bank said in the same report. The debt dropped by 5.9% or by $22.6bn, compared to the figure at the year start, Tass reports.

"The dynamics was largely driven by the contraction of foreign debt of other sectors as regards attracted credits, including within the framework of direct investing relations, the Central Bank noted.

The Russian foreign debt totalled $380.5bn as of January 1 of this year, the Bank of Russia said on March 29. The debt figure contracted by $101.8bn over 2022.

Russia’s international reserves are back to over $600bn

Russia’s international reserves increased by 1.2%, or $6.9bn, in one week to top $600bn for the first time since the war in Ukraine started, the ...

intellinews.com

60 percent in yuan?
Wow not bad. The Russians bet their fate on the Chinese. Ccp now has the power to crush and bankrupt Russia.

 

[MH.Yang]

600 billion US dollars in foreign exchange, of which 60% is in CNY.

Does the Russian govt mean they hold over 2 trillion CNY?

How can we ensure that such a large number of offshore CNYs do not become weapons against our economic system?

 

[beijingwalker]

60 percent in yuan?
Wow not bad. The Russians bet their fate on the Chinese. Ccp now has the power to crush and bankrupt Russia.

No one can bankrupt Russia, it has so much natural resources that everyone needs. you name it, they have it in bulk.

 

[Viet]

600 billion US dollars in foreign exchange, of which 60% is in CNY.

Does the Russian govt mean they hold over 2 trillion CNY?

How can we ensure that such a large number of offshore CNYs do not become weapons against our economic system?

It’s the opposite. China can use it as leverage or weapon against Russia. The 2 trillion yuans are kept in the books of China central bank.

No one can bankrupt Russia, it has so much natural resources that everyone needs. you name it, they have it in bulk.

You forgot something important. Without external help and finances Russia can’t exploit its resources and sell to foreigners. Sure, the Russians can do without foreigners but will be at primitive level at some sorts of Venezuela and Iran.

 

[mmr]

Russia's economy is based on GOLD reserves, being the most sanctioned country on the planet, Russia has proven to the world that the West's economic warfare can and will be checked and stopped.

USD is sinking fast and more countries are moving in the direction of the BRICS.

Ya only in wet dreams.

Brics is a joke to begin with. Indian and Chinese are natural rival lmao. This group will never work to begin with. Naive ppl lolz.

Usd has never been stronger, gdp is record high
, dow is breaking records lmao, and unemployment is 65 years low but ya ya us is sinking fast lolz

@beijingwalker - this mmr guy evidently has a screw loose in his head. A demented individual. Definitely a by-product of trying too hard to please his western masters and getting 2 cents in return. A typical brown sahib who would go to depths deeper than known to man to please his white masters.
Go easy on him....lol!

Uh ah now sucking ccp balls too ha ha ha go on…

White masters control ur generals and army lmao

The irony here is real

 

[aziqbal]

and they said Russia will suffer so much after the sanctions that within 18 days they will collapse

18 months later Russia is stronger than ever and they have taken 80% of Bakhmut

a town that was flooded with men + materials from over 60 nations including US + NATO

 

[MeFishToo]

If you continue to fixate on the "foaming at their mouths" Western MSM, then I guess you would be clueless to the fact that Russia has pegged its national currency to Gold.

By pegging gold to the ruble, Russia has just wiped out the dollar’s clout from the world markets

The ensuing decision of forcing EU nations to pay in ruble or gold for their gas trade with Russia have simply turned the table on the West.

tfiglobalnews.com

If you had actually paid any attention to reality, insted of quoting a website parroting russian propaganda 1 year ago, you would know this announcement in march 2022 was that countries could pay for russian ressources with gold. The russian central bank committed to buy gold at 5.000 ruble per gram for 10 days. 7. April 2022 Thats your “Ruble pegged to gold”. It was as fake as anything else comming from Russia.

Price of gold in Russia since “ruble pegged to gold” according to pro russian internet trolls. Source Bank of Russia.

Why dont you go exchange you rubles to gold. Let us know how it goes..

 

[Yongpeng Sun-Tastaufen]

Russia sells record oil to China, India, Saudi Arabia at market price which then resell to European countries at well above market price. That's why Russia, China, India, Saudi Arabia are reaping huge profits while Europeans countries pay the price, no pun intended.

 

[MeFishToo]

Russia sells record oil to China, India, Saudi Arabia at market price which then resell to European countries at well above market price. That's why Russia, China, India, Saudi Arabia are reaping huge profits while Europeans countries pay the price, no pun intended.

Market price is mostly below $60 then, because 70-80% of all tankers leaving Russia have tankers insurrance in the EU, G7 or Norway. 16 mio tons per month is leaving russian ports, compared to the 2,5 mio ton through the ESPO pipeline to China.

 

[Yongpeng Sun-Tastaufen]

Market price is mostly below $60 then, because 70-80% of all tankers leaving Russia have tankers insurrance in the EU, G7 or Norway. 16 mio tons per month is leaving russian ports, compared to the 2,5 mio ton through the ESPO pipeline to China.
View attachment 925190

Russia uses Chinese tankers. China is the biggest shipbuilding nation on the planet. When Russia uses Chinese tankers, Russia sells at market price instead of whatever price EU sets. Then China sells Russian oil to European countries at twice the market price. Win win for Russia and China at the expense of Europe.