Moscow: Russia's National Wealth Fund reserves fell by 1.22 trillion rubles (approximately $11.7 billion) in December 2024 compared to the previous month, resulting in a total of 11.88 trillion rubles (around $116 billion).

According to Anadolu Agency, the Russian Finance Ministry reported that the ratio of these reserves to the country's gross domestic product was 6.2%. The National Wealth Fund comprises assets denominated in rubles, gold, and Chinese yuan.

In a strategic shift, Russia eliminated its US dollar assets from the fund in July 2021, followed by the removal of British pound and Japanese yen assets in 2022, and euro assets in January of the current year. These changes were made in response to sanctions imposed by Western allies on Russia, including those related to the conflict in Ukraine, which began in February 2022.