Translation disclaimer: machine-assisted translation may contain inaccuracies. Always refer to the original source for authoritative text.
The Government of the Russian Federation approved a methodology for calculating key indicators reflecting the state of Russia's financial sovereignty. The corresponding Government Order No. 434-r of 6 March 2026 has been signed.
The document is aimed at establishing a unified approach to assessing the country's level of financial sovereignty and at laying the groundwork for the stable development of the financial market through 2030 in line with national priorities.
The financial sovereignty of the Russian Federation is an integral component of the country's state sovereignty and a critical element of national security. The approved methodology will enable the application of a unified approach to its assessment — namely, the state's capacity to conduct a coherent financial and monetary policy, ensure the stability of the financial market, and sustain the economy's ability to generate the resources necessary for development.
The document sets out methodologies for calculating indicators of the level of financial market development. These include the calculation of the share of financial institutions' assets relative to GDP, the volume of stock market capitalization relative to GDP, and the share of citizens' long-term savings as a proportion of their total savings.
The document also presents a methodology for calculating an indicator reflecting the resilience of Russia's financial market to external economic factors. This indicator will be determined by the share of settlements conducted in rubles and in the national currencies of friendly states [countries that Russia does not designate as "unfriendly," i.e., those that have not imposed sanctions in connection with the special military operation in Ukraine] for goods within the framework of foreign economic activity.
Upon completion of the calculations, the resulting analytical reports will be submitted to the Government to inform decision-making and the formulation of strategic measures for the development of the financial sector.