Update on most recent economic tough sanctions against Russia and its consequences

iticapital.ru:

1)  The US and UK have joined the EU to ban transactions with Russia's international reserves and Central Bank assets. As of the end of June 2021, foreign government bonds accounted for 38% of Russia’s reserves, deposits in foreign banks – 24%, gold – 22%, other FX-securities – 16%.

It is likely that the central bank has slightly increased the share of gold and renminbi since then.The total share of EU, UK and US amounts to over 55% or $321 bln as of the end of June or 352bln based on the currently available CBR FX and gold reserves.Therefore the Central Bank will be left with 45% of total reserves that have not been sanctioned yet or $261,6 bln based as of the end of June 21 or $288 bln, according to the recent CBR FX gold data.So essentially 36% of the reserves will be available for now and as Bank of Russia Governor Elvira Nabiullina said today, the regulator has limited opportunities for interventions now.If other countries, in particular the US, UK, Japan and China follow suit, 75% of reserves, or $480 bln, held by Western banks, would be blocked (yuan assets included) leaving only $160 bln available.

However, most likely the CBR will be left with gold in the amount of 22% or $132 bln, Chinese yuan 13,15% or $84 bln and SDR $24 bln making a total $240 bln available based on recent CBR FX and gold data.Source: Bank of Russia2)  The announced SDN sanctions have already hit 80% of assets of the Russian banking system. The affected banks would be cut off from SWIFT, while FX transactions outside Russia (VTB, Sberbank, Gazprombank, VEB, Promsvyazbank, Otkritie, Sovcombank, Novikombank and possibly several others) are subject to complete blocking.