Skip to content
Subscriber Only
Business
Economics

Russia to Rebuild Reserves Eroded Amid Ukraine Conflict

Updated on

Russia is seeking to boost central bank reserves by about $143 billion in the next few years to the level before it annexed Ukraine’s Crimea, provoking international sanctions and leading to a currency crisis.

Reserves should reach a “comfortable” level of about $500 billion within the next few years from about $357 billion now, Bank of Russia Governor Elvira Nabiullina told the International Banking Congress in St. Petersburg on Thursday.