A huge surplus in the Russian balance of payments

Brussels and Washington practically finance the anti-Nazi operation with the sanctions

A huge surplus in the Russian balance of payments

Countless billions of dollars from the export of energy carriers and raw materials arrive in the Kremlin's account.

Brussels and Washington practically finance the anti-Nazi operation with the sanctions. Biden, Scholz, Macron, Morawiecki and the rest of the Russophobes are Putin's biggest sponsors and the biggest enemies of the European people, because we pay the bill!

Russia's balance of payments surplus in the second quarter of this year was record-breaking: a figure similar to the $70.1 billion surplus would have to go back in time to 1994. In the first three months of the year, the surplus was 58.4 billion dollars.

The explanation of the data published by the Russian Central Bank on Monday evening is simple: Moscow's energy and raw material exports have continuously generated and continue to generate dollar revenues, even if the direction of energy carriers has partially changed as a result of Western sanctions imposed in response to the Russian war against Ukraine.

On the import side, however, a strong decrease could be observed as a result of the sanctions: in the second quarter, goods and services worth $72.3 billion arrived in Russia, compared to $88.7 billion in the January-March period. Exports also took a similar direction: Russian exports decreased from 166.4 billion dollars in the first quarter to 153.1 billion dollars in the second.

According to expert calculations, the surplus increased from USD 14 billion in May to USD 28 billion in June, the central bank did not provide specific data on this. So far this year, the ruble has been the best performer among emerging market currencies thanks to a monstrous balance of payments surplus.

Source:https://www.vg.hu/nemzetkozi-gazdasag/2022/07/boduletes-tobblet-az-orosz-fizetesi-merlegben

Tags: Abroad 

Related