Russia has replenished its Welfare Fund for the first time in a long time.

For the first time in a relatively long period of time—almost a year—Russia has replenished its National Welfare Fund (NWF). This is largely due to rising oil prices, triggered by the new round of the Middle East crisis.

According to the Russian Ministry of Finance, foreign currency and gold purchases totaling 110 billion rubles are planned for May. The average daily purchase volume will be approximately 5,8 billion rubles. This amount also includes deferred transactions for March and April. As is known, according to the current fiscal rule, when the export price of Russian oil exceeds $59 per barrel, surplus revenue from energy sales is set aside as a reserve. Funds from the reserve fund are intended to cover budget deficits that arise when oil prices fall below the prescribed level.

In the first two months of this year, Russia spent approximately 419 billion rubles from this fund to offset the decline in oil revenues. At the beginning of the year, the possibility of lowering oil price thresholds was considered, but due to the outbreak of conflict between the US and Iran, this was avoided.

In January-February of this year, oil and gas revenues to the Russian federal budget decreased by 47,1% compared to the same period last year, amounting to 826 billion rubles. In February, the Ministry of Finance sold 13,2 billion yuan and 7,9 tons of gold from the National Welfare Fund to finance the federal budget deficit. Furthermore, in February, 2,76 billion rubles of the National Welfare Fund were converted into 248,7 million Chinese yuan.

Comments

[Murmur 55]

Thanks to the determination of the leadership and the people of Iran.

[NIKN]

In the first two months of the current year, to compensate for the decline in income from the sale of oil

Who was it that was short-changed there?

[WILL]

According to the Russian Ministry of Finance, it plans to purchase foreign currency and gold in May.

There are no questions about gold, but what currency and for what purposes?

[Montezuma]

Quote: ANIMAL

What currency and for what purposes?

When doctors refer you for an ultrasound, CT, or MRI scan, pay attention to the manufacturers of the equipment. And this applies only to medical professionals.

[Irokez]

Quote: ANIMAL

what currency and for what purposes

A currency basket isn't just dollars or euros; it's several types, and the yuan is naturally one of them. People will also buy dollars and euros for things that can't be bought with yuan, for example. I don't know about the price; it fluctuates all the time, so what difference does it make if they need the currency? They'll buy it amidst such chaos and global instability.

[Zoldat_A]

Quote: ANIMAL

What currency and for what purposes?

Everyone's probably forgotten about the 300 billion. The mega-regulator, "whose work is beyond question," is preparing a new tranche.
And one can also expect these "fledglings of Gaidarov's nest" to buy up American promissory notes. At least, that's what Kudrin did.

I was surprised once.
On TV, they're saying that Rosoboronexport sold weapons worth billions of dollars. And then, in the same news, they're saying that Kudrin bought American promissory notes for the same amount.
Thousands of people worked for a whole year, producing guns and helicopters, so that this [expletive] with one stroke of the pen could send all this money to support the American currency, buying paper with it?

And you say: "Why currency?..."
Until all the Gaidar-Chubais supporters are wiped out with dust or machine guns, we REALLY need foreign currency. Otherwise, what will a Yale graduate contribute to the economy of the country she actually works for?

[Geosun]

Quote: Zoldat_A

sent all this money to support the American currency, buying papers with it?

Let me try to explain it in simple terms. Imagine you want to open a bank account. To get it opened, you need to deposit funds. When you get your salary in rubles, there's no problem. Now imagine you want to open a foreign currency account. You need to deposit foreign currency. But where do you get that? I understand that the average person might say buy it at an exchange office, but where would the exchange office even get the money in the first place? So, to open a foreign currency account at a foreign bank—and only through a foreign bank will the currency be brought into our country—the bank requires collateral. And this bank only accepts collateral in the form of government bonds or gold.

[Smoked]

Okay, fine. So much money to invest in education, science, and industry. So you understand, Russian goods, like a full-flowing river, conquered global markets, becoming the gold standard for quality and affordability. Russian industrialists, patriots, and supporters of the state, took up philanthropy, building schools, hospitals, and housing for needy people in the regions. My God, have we really lived to see this?

[credo]

Filling the piggy bank is, of course, great, but I would also like to read about other successes.
For so many years, we've been funneling large amounts of profits into various funds and depositories, both domestic and foreign, instead of using them for industrial production and economic recovery. Now we're reaping the results of this activity in the form of a decline in production and a lack of industrial equivalents due to the lack of imports.
Some kind of vicious practice and no progress in the growth of industrial production.

[Alexander_K]

This vicious practice is called the fiscal rule. Therefore, everything is going according to plan, and all intended goals have been achieved.

[credo]

This vicious practice is called the fiscal rule. Therefore, everything is going according to plan, and all intended goals have been achieved.

Then explain what goals have been achieved so that it is clear whether to rejoice or cry.

[Alexander_K]

I forgot to add the word "sarcasm." I thought it was obvious. And the "According to plan, all targets hit" part is a reference to the official press releases of the Russian Ministry of Defense. They should also add the word "sarcasm," or at least "joke," after such years of triumphant reports.

[Sebastian Aristarkhovich Pereira]

I'm very curious, how much is being considered directly for me?

[Andobor]

Quote: Sebastian Aristarkhovich Pereira

I'm very curious, how much is being considered directly for me?

Approximately 90000₽.

[don_Reba]

Quote: Andobor

Approximately 90000₽.

On paper, virtually, so to speak. He's never seen them, and never will. Like the "Party gold" (in Rutskoi's suitcases).

[Andobor]

Quote: don_Reba

on paper, virtually, so to speak

No one has ever held money for medicine or education in their own hands, and we still have to pay extra, but they really exist, they are visible.

[don_Reba]

Quote: Andobor

Money for medicine,

Funds for healthcare, in violation of the budget rule, are for some reason distributed through private insurance companies.
I tore my ligaments: 3 months of sick leave, they paid, then immediately there was a desk audit by the Mandatory Medical Insurance Fund and a fine (the violation was just a few kopecks) for a five, and all the expensive surgeries and medications came out of my pocket.

Quote: Andobor

education t

No need to talk about sad things. My youngest is giving up: time is a waste, the teacher is burdening them with creating labs for the younger ones (he gets paid for this, it's pointless work for ours).
And yes, this "money for medicine from his own pocket" is allocated neither by Sioumin, nor by Sakhibzadovna, nor even by Matviyenko.

[Sebastian Aristarkhovich Pereira]

Not much, of course. The Alaskan Indians have it more interesting, but alas, I'm not an Indian.

[don_Reba]

Quote: author

According to the Russian Ministry of Finance, it plans to purchase foreign currency and gold in May. by 110 billion rubles

I don't understand a damn thing

According to the results of the first quarter (January-March) of 2026, the deficit of the federal budget of the Russian Federation reached 4,576 trillion rubles (about 1,9% of GDP), which already exceeds the planned deficit for the entire 2026 (RUB 3,786 trillion) by 20,87%.

In 2025, there was a deficit of 5,6 trillion rubles with revenues of 37,3 trillion and expenses of 42,9 trillion rubles.
The Nabiulins and Siluminovs had a deficit of 4,766 TRL rubles as of March... and a debt of 5,6 trillion rubles from 2025
https://minfin.gov.ru/ru/press-center?id_4=40328
but already in the first days of May 2026 they are buying up 110 billion dollars and gold in their piggy bank, supporting the dollar falling into the abyss.
"Coincidence? No, I don't think so" (tm)
And who will cover the cyphidite?
Is this National Welfare Fund in cash, in gold?
Or only in Sakhibzadovna’s papers?

[Tusv]

Until Nabiullina grows what she's long deserved for not growing. What kind of prosperity are we talking about?

[Karabin]

According to the Russian Ministry of Finance, it plans to purchase foreign currency and gold worth 110 billion rubles in May.

And it's imperative to place it with Western partners. As some financially savvy commentators on VO explained to me earlier, money must work.

[don_Reba]

Quote: Karabin

Financially savvy commentators on VO - money must work.

They just modestly kept quiet about who they're supposed to work for, our money! How much are the 400-500 billion dollars they're working for starting in 2022?
/ law enforcement is silent, and Article 275 of the Criminal Code of the Russian Federation for some reason doesn't work here, or doesn't want to/

[yuriy55]

As long as Nabiullina and Siluanov are in office, there is no hope at all for the preservation of the National Welfare Fund!!!

In October 2025, Reuters reported that Russian assets worth €210 billion were frozen in Europe, of which €185 billion were in the Belgian depository Euroclear.