Rising ruble, borrowing push Russia’s foreign debt to $320 billion

Russia’s external debt has surged to nearly $320 billion, marking a significant rise compared to the previous year, the Central Bank of Russia reported.

As of January 1, 2026, the country’s external obligations increased by almost $30 billion from 2025, representing a year-on-year growth of 10.4 percent, reaching a total of $319.8 billion.

“The increase was primarily driven by a positive revaluation of the liabilities of other sectors and the banking system, reflecting the strengthening of the ruble, as well as additional debt financing,” the Central Bank’s press service explained.

By Vafa Guliyeva