Russia’s Gold Reserve Depletion Signals Mid-2026 Financial Crisis as War Costs Surpass Oil Revenue – Blockonomi
TLDR: Russia’s National Wealth Fund has contracted from $113 billion to $50 billion, with liquid reserves projected to deplete by mid-2026. Military expenditures now exceed total oil and gas revenue as energy income dropped 22% annually and 34% in November alone. The budget deficit was revised from 1.2 trillion rubles to 5.7 trillion rubles, representing…