6 Jun 2018 19:39

NWF down 35.1 bln rubles to 3.928 trln rubles in May - Finance Ministry

MOSCOW. June 6 (Interfax) - Russia's National Welfare Fund (NWF) decreased by 35.1 billion rubles to 3.928 trillion rubles ($62.747 billion) on June 1, 2018 from 3.963 trillion rubles ($63.914 billion) on May 1, the Finance Ministry said in a statement.

Separate NWF accounts with the Central Bank of Russia (CBR) contained $15.695 billion, 15.137 billion euros and 3.284 billion pounds.

Deposits with Vnesheconombank (VEB) held 573.408 billion rubles. A total of $3 billion has been invested in Ukrainian Eurobonds. Another 112.63 billion rubles and $4.11 billion were invested in securities from Russian issuers associated with sustainable infrastructure projects, 278.99 billion rubles in the preferred shares of banks, and 164.43 billion rubles deposited with VTB and Gazprombank and earmarked for sustainable infrastructure projects.

Estimated earnings from placement of NWF money in forex accounts at the Central Bank in the period December 15, 2017-May 31, 2018 were negative $0.7 million or the equivalent of negative 0.043 billion rubles. The exchange rate change from revaluation of balances in those accounts in the January 1-May 31, 2018 period was 179.773 billion rubles. This included 151.83 billion rubles on forex accounts at the Central Bank; negative 7.582 billion rubles on USD deposits with VEB; 14.9 billion rubles on funds invested in Ukrainian Eurobonds; and 20.54 billion rubles on forex-denominated securities of Russian issuers related to the implementation of sustainable infrastructure projects.

Federal budget revenue in May from placement of NWF money on deposits at VEB totaled 54.5 million rubles or the equivalent of $0.88 million.

Total return from placement of NWF money in permitted financial assets totaled 10.886 billion rubles or the equivalent of $190.2 million.