Russia: Balance of payments surplus hits record high

247 – Russia’s current account surplus reached a record $70.1 billion in the second quarter of the year, boosted by huge revenues from energy and commodity exports.

The value was the highest since at least 1994, according to data released by the central bank on Monday 11. In the first six months of 2022, the surplus was $138.5 billion, the central bank said.

India, for example, buys record amounts of Russian crude. China imported record amounts of cheap Russian crude in June, even amid the COVID-19 pandemic lockdowns. a Brazil should make a big contract Diesel export.

The decline in imports also contributed to the surplus, he points out Bloomberg.

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The positive balance comes even after the unprecedented sanctions against Russia, which were imposed due to the military operation in Ukraine.

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