Russia's second-quarter current account surplus surges 4 times year-on-year

Russia's current account surplus in the second quarter quadrupled year-on-year to US$70.1 billion, the highest since 1994. The previous value was 58.2 billion, mainly driven by rising commodity prices and exports and Western sanctions. weaken Russian imports. In the same period, the total surplus of goods and services surged to 80.7 billion from 34.8 billion in the previous quarter, reflecting the continued inflow of global funds for purchasing goods in Russia.