For the first time in 25 years! Russia sells its gold reserves due to record budget deficit

Russia has sold the largest amount of its gold reserves in almost a quarter of a century in an attempt to replenish its budget against the backdrop of record military spending. From 2022 to 2025, the budget deficit of the Russian Federation exceeded 15 trillion rubles, which is equivalent to approximately 150 billion dollars. Since the beginning of 2026, the financial situation in Russia has continued to deteriorate: only in January and February the budget deficit remained critical. This was reported today by News IO, quoted by Focus.

Gold as a lifeline for the Russian budget

Given the acute shortage of funds, the Russian government has been forced to start selling its gold reserves for the first time in 25 years. The move appears to be an attempt to limit further economic decline and offset the budget deficit, which has reached record levels in recent years. Gold sales by the central bank were previously considered a last resort in Russia in case of extreme financial shocks, but the current situation has forced them to resort to them as early as early 2026.

Implications for the Russian economy

The sale of gold reserves may temporarily help cover budget expenses, but it also indicates a significant weakening of Russia's financial stability. Experts emphasize that the gold sell-off could have long-term negative consequences for the country's economy, in particular for investor confidence and its international rating.

''In the period 2022-2025, the budget deficit of the Russian Federation amounted to more than 15 trillion rubles (approximately $ 150 billion), and in the first two months of 2026 alone...''

Financial analysts note that a further reduction in gold reserves could make Russia even more vulnerable to external economic shocks and complicate its ability to overcome future crises.