Russia's large foreign exchange reserves help the country mitigate the impact of external factors on its economy, the International Monetary Fund (IMF) said in its External Sector Report. "Russia’s large FX reserves and floating exchange rate regime continue to help absorb shocks. However, the IMF added that Russia's external position last year remained moderately weaker than its medium-term fundamental forecast. The Bank of Russia reported that the country's international reserves rose by $0.5 billion over the week to $722.9 billion as of July 17, 2026. Following the start of Russia's special military operation in Ukraine, Western nations sanctioned the Bank of Russia, freezing its gold and foreign exchange reserves and banning all transactions involving the central bank's assets or any entities acting on its behalf.