Russia’s Cash Inflow Gains Momentum as Oil Exports Recover
- October surplus exceeded $11 billion for second straight month
- Exports to Asia rise, partly offset loss of European market
Russia’s current-account surplus widened, providing support to the ruble as a recovery in oil exports continued despite unprecedented international sanctions over the war in Ukraine.
The surplus — roughly the difference between exports and imports — amounted to $53.8 billion for the first 10 months of the year, still around four times less than the record set in the same period in 2022, according to data published Tuesday by the central bank. The surplus in October exceeded $11 billion for the second straight month, after reaching the highest level this year in the previous month.