Registered in Russia the largest current account surplus since at least 1994 and reached $58.2 billion in the first quarter of 2022 (ie including the first month of the conflict), more than double the $22.5 billion recorded in the same period of 2021. Central Bank of Russia. The maximum trade surplus (difference between the value of exports and imports) depends on the fact that the value of exports (mainly oil and gas) has increased significantly with price increases and broad stability of supplies. On the other hand, imports collapsed after the United States and its allies imposed sanctions for invading Ukraine. The central bank has indicated that it will temporarily stop providing it monthly trade balance updates.
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“Export flows have remained virtually the same, but imports have fallen dramatically due to logistical constraints and restrictions imposed by Western countries,” the finance minister said yesterday. Anton Siluanov in an interview published in the Izvestia newspaper. According to calculations by the research office Bloomberg, Moscow’s expected income from energy exports in 2022 is 320 billion dollars, almost 100 billion more than in 2020 thanks to rising gas, oil and coal prices. War amplifying these up moves seems to be paying off somewhat. Russia has “enough Gold and Yuan Reserves and can grow again. This was stated by the governor of the Central Bank of Russia Elvira Nabiullina. The World Bank has estimated one for the Russian economy Decrease of 11.2%.
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