Ukraine Estimates Russia's Reserve Funds for War

The decline in budget revenues is being covered by the Kremlin through reserve funds that were actively filled with currency and gold until the large-scale invasion of Ukraine. Their volume is estimated to exceed 150 billion dollars.

“It is actually these reserves that Russia uses to maintain its army, produce weapons, and procure equipment,” said Andriy Yusov, spokesperson for Ukraine's military intelligence, in an exclusive comment, as reported by Ukrinform.

The Russian Federation also generates revenue from oil exports. At the beginning of this year, Russian oil exports reached 8.3 million barrels per day, the highest level since April 2020, according to the International Energy Agency. However, after the establishment of the upper price cap for Russian oil in December last year, revenues from the oil and gas sector in the first four months of this year have decreased by 52% compared to January-April 2022.