The Russian Current Accounts plunge

The facts in this report are coming from the Russian central bank

snippet concerning the outcomes

The nation posted a current-account surplus of $5.4 billion for the April-June quarter, which marks a 93% plunge from a record $76.7 billion in the same period last year, Bank of Russia data shows. That’s also the smallest excess since the third quarter of 2020.

It shows the heavy blow that Western economic sanctions — imposed on the Kremlin in response to its war on Ukraine — have dealt to the country’s economy by squeezing its energy exports.