Russia's Gold and Forex Reserves Hit Historic High Amid Diversification Strategy

Russia's gold and forex reserves reached an all-time high of $769.1 billion, boosted by a rise in gold prices. While $300 billion is frozen by the West, Russia has diversified its reserves into euros, gold, and yuan. The increase is partially offsetting losses from frozen assets.

Russia's gold and foreign exchange reserves have soared to a new record of $769.1 billion, driven by a surge in gold prices, the central bank announced Thursday.

The reserves, 43% of which are comprised of gold, mark a strategic shift away from the U.S. dollar to euros, gold, and China's yuan.

While $300 billion remain frozen by Western sanctions, the reserve's growth—fueled by asset revaluation and a 12% increase in gold prices this year—has cushioned the impact of Western-imposed freezes.