Tuesday, January 17, 2023

"Russia posts record current account surplus of $227 billion in 2022"

Whatever it is the Western governments are doing to Russia, it doesn't seem to be working.

Perhaps it's time to invade and just take all their stuff.

From Reuters via Yahoo Finance, January 17:

Russia's current account surplus hit a record high in 2022, the central bank said on Tuesday, as a fall in imports and robust oil and gas exports kept foreign money flowing in despite Western efforts to isolate the Russian economy.

Russia's current account - a measure of the difference between all money coming into a country through trade, investment and transfers, and what flows back out - came in at $227.4 billion, up 86% from 2021.

Russian imports fell sharply last year amid an exodus of Western firms after the West imposed sweeping sanctions on Moscow for its invasion of Ukraine.

But the Kremlin has sought to replace revenues lost from its oil and gas exports to Europe with a pivot to China, India and other Asian countries.

Trade between Russia and China hit a record high of $190 billion last year, Chinese customs data showed....

....MUCH MORE