Russia’s External Debt Surges Past $60 Billion Amid War and Sanctions
Russia's sovereign debt to foreign creditors has reached $61.9 billion, its highest level in two decades, as the war in Ukraine and Western sanctions strain the economy. The Ministry of Finance reported the figure—unseen since 2006—as the Central Bank of Russia estimates total external debt at $319.8 billion, a 10.4% increase since early 2025.
While Moscow frames this as low by developed-nation standards, analysts warn the debt-to-GDP ratio bears watching. The spike reverses a 15-year trend that saw obligations fall to $39.7 billion in 2011 before creeping upward.