Stabilization Fund of the Russian Federation

The Stabilization fund of the Russian Federation (SFRF, Russian: Стабилизационный фонд Российской Федерации, romanized: Stabilizatsionny fond Rossiyskoy Federatsi) was a sovereign wealth fund established based on a resolution of the Government of Russia on 1 January 2004, as a part of the federal budget to balance the federal budget at the time of when oil price falls below a cut-off price, currently set at US$27 per barrel.

The Fund was created to create a reserve of liquidity with the additional benefit of reducing inflationary pressure and insulating the economy of Russia from volatility of raw material export earnings (for example the price of crude oil), which was among the reasons of the 1998 Russian financial crisis.

In February 2008 the SFRF was split into a "Reserve Fund", which was invested abroad in low-yield securities and used when oil and gas incomes fall, and the "National Welfare Fund", which invests in riskier, higher-return vehicles, as well as federal budget expenditures.^[1] The Reserve Fund was given $125 billion and the National Welfare Fund was given $32 billion.

By 2017 the Reserve Fund was exhausted and ceased to exist.