Russian external debt estimated at $308.8 billion in March
The Central Bank of Russia (CBR) estimates the country's external debt at $308.8 billion as of March 2026. This figure represents a decrease from the previous quarter's total.
Overall debt declines
The total external debt of the Russian Federation is estimated at $308,828.02 million, or approximately $308.8 billion, as of March 2026.
This figure represents a notable decrease from $319,353.24 million recorded in December 2025.
Over the past year, the debt has shown significant quarterly fluctuations, peaking at $323,570.61 million in June 2025 before trending downwards in the latest estimate.
The Central Bank of Russia clarifies that these figures encompass indebtedness denominated in both domestic and foreign currencies, providing a comprehensive view of the nation's external financial obligations.
Minor discrepancies between the total and the sum of components are attributed to the rounding of data, as noted in the official release.
Sectoral breakdown
The external debt is distributed across several key sectors.
General Government debt stood at $22,998.77 million in March 2026, a slight decrease from $23,459.34 million in December 2025.
The Central Bank and banks sector reported $107,834.53 million, down from $110,872.71 million.
Other sectors accounted for the largest portion, with $177,994.72 million, also showing a reduction from $185,021.19 million in the previous quarter.
This indicates a broad-based deleveraging across major segments of the Russian economy in the first quarter of 2026.
Fluctuations in a volatile environment
The estimated external debt figures reflect ongoing adjustments in Russia's financial landscape.
While the overall decline suggests some deleveraging, the quarterly fluctuations highlight persistent volatility.
For analysts, these granular updates remain crucial for assessing economic resilience amidst sanctions and evolving global conditions.