As of May 1, 2026, the volume of gold in russia's international reserves decreased to 73.9 million ounces, which was the lowest figure since March 2022, against the background of a four-month decline in a row.
As reported in The Moscow Times.
As of early May, the gold component of russia's gold and foreign exchange reserves decreased to 73.9 million ounces, recording the minimum value since March 2022. The decrease continues for the fourth month in a row.
In April, the volume fell by 200,000 ounces, and since the beginning of 2026, by 900,000 ounces. According to data cited by The Moscow Times, this led to a decrease in the total amount of gold on the balance sheet to the lowest level in more than four years.
In terms of weight, the reduction for January-April was 27.9 tons. This is the largest drop since 2002, when a decrease of 41.5 tons was recorded in May in one month, according to the World Gold Council.
In the previous two decades, the Central Bank has mostly increased its gold reserves, buying hundreds of tons each year. Monthly reductions have usually not exceeded 100,000 ounces (3.1 tons), with the exception of July 2005, when the volume fell by 7.7 tons. The current reduction exceeds this figure by 3.5 times.
Gold sales are carried out within the framework of transactions related to "mirror" agreements on the assets of the National Welfare Fund, which are part of international reserves.
Freedom Finance Global analyst Natalia Milchakova links such transactions with the needs to cover the budget deficit, which at the end of March amounted to RUB 4.6 trillion. According to her, without partial compensation from the regulator, the figure could exceed RUB 5 trillion.
She also notes that some of the transactions could have been aimed at building foreign currency reserves due to a decrease in export revenues. As part of these processes, gold was exchanged for yuan.
Recall that the Foreign Intelligence Service of Ukraine received access to documents containing an assessment of the losses of the aggressor country of russia in its own economy.
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.