ПОЛИТИКА ДИВЕРСИФИКАЦИИ СТРУКТУРЫ ЗОЛОТОВАЛЮТНЫХ РЕЗЕРВОВ РОССИИ

Abstract

The article is devoted to the issues of diversification of the structure of Russia’s gold and foreign exchange reserves. Like most foreign countries, Russia pursues the policy of increasing international reserves in order to strengthen national positions in the global financial market and ensure the protection of the national economy from external shocks. The main sources of formation of international reserves, factors influencing their dynamics are analyzed. It is noted that the dominant position in the structure of Russia’s international reserves is occupied by assets in foreign currency, which make up the most liquid part of them. It is emphasized that the reduction in investments in foreign currency is explained by the diversification of reserves in favor of the increase in the share of monetary gold with a significant reduction in the share of the US dollar due to sanctions pressure exerted on Russia by the United States. It is proved that Russia pursues the policy of de-dollarization in the context of the US dollar retaining a key role in global reserves and trade settlements. The expediency of acquiring foreign currencies of states that did not join the restrictive measures against Russia, in particular the Chinese yuan, is substantiated. Pursuing a policy of de-dollarization of the Russian economy means a transition to settlements primarily in Russian rubles with the countries of the Eurasian Economic Union (EAEU). It is concluded that the volume of mutual trade and settlements in Russian rubles and in the national currencies of other EAEU member countries will grow, despite increased pressure from Western countries.