Russia’s Gold Reserves Hit Lowest Level Since 2022: What’s Happening to Its Assets.

Decline in Russia’s Gold Holdings

According to TSN.ua: By the start of March 2026, Russia’s gold reserves had fallen to 2,311 metric tons—the lowest figure recorded since March 2022. In January 2026, those reserves stood at 2,326 tons, meaning a drop of 15 tons in just a short period. This decline coincides with the Central Bank of the Russian Federation beginning to sell gold to domestic market participants starting in November 2025, a move that likely contributed to the decrease.

Overall International Reserves Shrink

Furthermore, Russia’s total international reserves contracted from $833.6 billion to $809.3 billion in February 2026. Of that amount, $300 billion consists of frozen assets that remain inaccessible. Gold now accounts for nearly 47% of Russia’s reserves, underscoring its critical role in the country’s overall financial portfolio.

These trends—declining gold reserves and shrinking international reserves—point to shifting economic conditions in Russia amid global pressures. Such developments could significantly impact the nation’s financial stability and future economic policy. With fewer reserves at its disposal, Russia may face challenges in safeguarding its financial security and supporting the ruble’s exchange rate, which in turn could affect the country’s domestic socioeconomic landscape.