Russia Spent Nearly 25% of National Welfare Fund, Valued at $116.8 Billion, to Support War Efforts Amid Ongoing Ukraine Invasion

Jan 16, 2025, 09:51 AM

In 2024, Russia reportedly spent nearly a quarter of its National Welfare Fund's available reserves to support its economy amid the ongoing war in Ukraine. This expenditure is part of a broader strategy to maintain a war footing, as the country faces substantial military losses. Reports indicate that Russia has incurred an average of 1,500 casualties daily, totaling over 700,000 dead and injured since the invasion began. As of January 1, 2025, the National Welfare Fund was valued at approximately 11.88 trillion rubles, equivalent to $116.8 billion, representing 6.2% of the country's GDP. The fund's liquid assets have diminished significantly, with a reported decrease of 30% in December 2024, leaving balances at $37.5 billion and gold reserves down to 187.7 tons.