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Russian Trade Surplus Narrows as Falling Oil Cuts Exports

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Russia’s trade surplus narrowed in September to the lowest in seven months as falling oil prices cut export revenue during President Vladimir Putin’s escalating standoff with the U.S. and the European Union over Ukraine.

The surplus fell 20 percent from a year earlier to $13 billion, the central bank in Moscow said today on its website. The median estimate of 14 economists surveyed by Bloomberg was $15.7 billion. Imports decreased 10 percent to $25.8 billion and exports fell 13 percent to $38.8 billion.