The Central Bank of Russia reported a record loss of 722 billion rubles last year

Russian rubles/Shutterstock Images

For the year 2022, in which Russia invaded Ukraine in the second month, the Central Bank lost 721.7 billion rubles (more than €8.58 billion), 27 times more than the year before, according to its annual report, which was earlier sent to the State Duma.

The Russian Central Bank, which was hit by sanctions, deprived of half of its reserves and cut off from transactions with global currencies, ended the year 2022 with a record loss in its history.

For the past 6 years, the loss of the Central Bank has reached 1.866 trillion rubles, an amount almost equal to two annual budgets of the entire higher education system.

The euro exchange rate on the Moscow Exchange exceeded 84 rubles for the first time since April 20, 2022. Today, March 30 the euro rose by 0.24 per cent to 84.005 rubles.

One person tweeted: “The article can say it’s a “record loss” but the number is so small it means total failure of Western sanctions.”

And another: “We in the US just lost a 200 billion bank, wtf is 9.3bil?!”

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