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Russian Current Account Surplus Surges to $96 Billion (3:22 p.m.)
Russia’s current account surplus more than tripled in the first four months of the year to $95.8 billion, the central bank said, as prices surged for its oil and gas exports and imports plunged under the weight of sanctions imposed by the US and its allies over Putin’s invasion.
The surplus on the current account, the broadest measure of trade in goods and services, was the highest since at least 1994. The steady inflow of revenue from energy and other exports has -- aking with strict capital controls -- helped support the ruble, turning the Russian currency into the best performer in the world this year.