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.

Recent coverage

• FNB to allocate additional funds for aviation industry support — Интерфакс
• 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
• Central Bank to cut foreign currency sales by eight times, excluding budget rule — Москва 24