Russia Reveals Exact Amount of Reserves Frozen by US and Allies

People queue outside a branch of Russian state-owned bank Sberbank to withdraw their savings and close their accounts in Prague on Feb. 25, 2022, before Sberbank closed all its branches in the Czech Republic later in the day. Michal Cizek/AFP via Getty Images

Russia’s finance minister revealed that about $300 billion of Russia’s foreign exchange and holdings have been seized amid sanctions from Western nations.

“We have a total amount of reserves of about $640 billion, about $300 billion of reserves are now in a state in which we cannot use them,” Finance Minister Anton Siluanov told state-run media on Sunday.