> The National Welfare Fund is a limited-size instrument to help the economy when oil prices fall.
>
> The impact of the decline in Russian oil prices to ~$40 per barrel (from the end of 2025) on the Russian economy is partially offset by rising prices for other export goods, as well as by the Bank of Russia’s regular foreign currency sales from the National Welfare Fund under the fiscal rule. Taking these two factors into account, the price index for Russian export goods in Q4 2025 decreased by 3%, while oil prices fell by 23%.
>
> The ability to compensate for oil export revenues depends on the available reserves in the liquid portion of the National Welfare Fund (NWF) – RUB 4.1 trillion (~2% of GDP) at the end of 2025. The rate of reserve expenditure is affected by the duration and depth of the decline in oil prices below the budget rule level ($59/bbl in 2026), as well as the amount of NWF spending for other purposes – the 2026-2028 budget provides for investments in infrastructure projects worth RUB 1 trillion.
>
> For example, if current oil prices remain (a conservative assumption, the Center for Price Indexes’ macro consensus is $49 per barrel), the liquid portion of the NWF reserve will be sufficient for 1.3 years (other variations are shown in the figure). If the expected depletion of the liquid portion of the NWF approaches one year, this will likely require a revision of the “cutoff price” below $59 per barrel, which will require a revision of federal budget expenditures or revenue sources
>
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> The National Welfare Fund is a limited-size instrument to help the economy when oil prices fall.
>
> The impact of the decline in Russian oil prices to ~$40 per barrel (from the end of 2025) on the Russian economy is partially offset by rising prices for other export goods, as well as by the Bank of Russia’s regular foreign currency sales from the National Welfare Fund under the fiscal rule. Taking these two factors into account, the price index for Russian export goods in Q4 2025 decreased by 3%, while oil prices fell by 23%.
>
> The ability to compensate for oil export revenues depends on the available reserves in the liquid portion of the National Welfare Fund (NWF) – RUB 4.1 trillion (~2% of GDP) at the end of 2025. The rate of reserve expenditure is affected by the duration and depth of the decline in oil prices below the budget rule level ($59/bbl in 2026), as well as the amount of NWF spending for other purposes – the 2026-2028 budget provides for investments in infrastructure projects worth RUB 1 trillion.
>
> For example, if current oil prices remain (a conservative assumption, the Center for Price Indexes’ macro consensus is $49 per barrel), the liquid portion of the NWF reserve will be sufficient for 1.3 years (other variations are shown in the figure). If the expected depletion of the liquid portion of the NWF approaches one year, this will likely require a revision of the “cutoff price” below $59 per barrel, which will require a revision of federal budget expenditures or revenue sources
>
> More Info – charts and tables showing the reducing fund
>
>
> https://i.imgur.com/4N80T1F.png
>
> https://i.imgur.com/kCw8uEz.png
Meanwhile – Charts from elsewhere
As of January 2026:
The liquid portion of the Russian National Welfare Fund holds:
* 209.1520 Billion Yuan ( 0 billion)
* 160.2412 tons of gold (-12.7982 tons)
* 3.1230 Billion Rubles (+1.3886 billion)
(Totals for December 2025)
https://i.imgur.com/XnoLMmA.png
https://i.imgur.com/fG2ps5E.jpeg
You have read it here first. Trump will send them money. Billions.
Just like Putin died of cancer twice a month since like 3 years ago.
Get real.
Ah yes. The world famous Russian Undevelopment Fund.
Possibly the only fund in the world used to ruin own country. Truly remarkable.
We’ve been waiting for awhile. I’ll believe it when I see it.
The only “development fund” used to underdevelop other nations and your own and the same time, neat trick
Noice, 27:1 casualty ratio of ruzzkiye troops and a collapsing economy.Â
Slava Ukraini EZ win
It’s been like that for 3 years in a row…
It’s been three years that I’ve been told Russia is ruined. It’s time to change the record.
Nice Christmas present
Too beautiful to be real…
This year it may actually happen. If not, then next year, for sure. Hopefully.
See you next year folks.
Oh no anyway