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Russian Reserves March Toward $600 Billion As Sanction Threats Loom, Fitch Says

Russian Reserves March Toward $600 Billion As Sanction Threats Loom, Fitch Says

Russia will continue to build up its foreign currency and gold reserves to protect its economy as threats of more U.S. sanctions loom, a top financial firm said.

Russian reserves will reach nearly $600 billion – a record high – by 2021 thanks to trade and budget surpluses, credit-worthiness agency Fitch Ratings said Aug. 9 as it upgraded the nation’s debt ratings…

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