FNB

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The ФНБ (Фонд национального благосостояния) is a state fund used for stabilizing the ruble through currency operations and investment in financial assets. Since 2022, its role has shifted significantly: the mechanism of mirror operations was reduced, liquidity declined sharply, and the fund increasingly serves as a source for financing budget deficits outside the budget rule. In 2025, funds from ФНБ were not used to cover deficit beyond the budget rule; in the first half of 2026, net investment amounted to 74.8 billion rubles.

Events

• Russia's gold reserves have fallen to the lowest level in six years.…
• The volume of Russia's National Welfare Fund (FNBF) decreased by…
• Authorities decided to increase foreign currency purchases
• According to the document, the maximum amount of funds from the…

Recent coverage

• Ministry of Finance does not set the goal of selling the state package of Aeroflot in the framework of SPO at any price — Интерфакс
• Central Bank gold reserves fell to minimum since early 2020 — Агентство. Новости
• GTLK received 4.7 billion rubles from the FNB for construction of 22 vessels — Интерфакс
• The volume of the Russian National Wealth Fund decreased in July to 1.272 trillion rubles — Коммерсантъ
• Volume of the National Welfare Fund of the Russian Federation amounted to 12.72 trillion rubles — Ведомости
• FNB decreased by 383.3 billion rubles in July, to 12.72 trillion rubles — Интерфакс
• Authorities decided to increase foreign currency purchases after the dollar rate exceeded 80 rubles — The Moscow Times
• Russia will direct 24.3 billion rubles from the National Welfare Fund to subsidized leasing of 72 helicopters — Интерфакс
• FNB to allocate additional funds for aviation industry support — Интерфакс
• Alikhanov: Putin approved allocation of funds from the FNB to issue eight Il-114-300 aircraft — Ведомости
• Budget funds will be allocated for the preferential leasing of a new domestic aircraft — Фонтанка
• Putin approved recapitalization of Il-114 production from the Federal Budget Fund. — РИА Новости (Telegram)
• FNB funds will be allocated for preferential leasing of eight Il-114-300 aircraft — Интерфакс
• Volume of the National Pension Fund grew by 148.9 billion rubles in June — Ведомости
• FNB grew by 148.9 billion rubles in June to reach 13.1 trillion — Интерфакс
• Central Bank to cut foreign currency sales by eight times, excluding budget rule — Москва 24