Russia's Current Account Surplus Rises to $16.9 Billion in Second Quarter

Russia's current account surplus grew to $16.9 billion in the second quarter of 2026, according to figures released by the country's central bank and reported by state news agency TASS.

The central bank also reported that Russia's trade balance surplus, a narrower measure covering the exchange of goods, stood at $39.4 billion for the same quarter. The current account is a broader measure that includes trade in goods and services as well as income flows and transfers between Russia and the rest of the world.

Russia's external accounts have remained in surplus throughout the war in Ukraine, supported largely by continued energy exports, even as Western sanctions have sought to limit Moscow's access to international markets, technology and financial systems. The country has redirected much of its oil and gas exports toward buyers in Asia, including China and India, following the loss of most of its traditional European customers.

Economists tracking the Russian economy have noted that sanctions have reshaped, rather than eliminated, the country's trade relationships, with a growing share of transactions now conducted in currencies other than the US dollar and euro. The central bank's figures suggest that despite ongoing restrictions, Russia has continued to generate substantial foreign currency inflows from its exports.

The central bank did not provide a detailed breakdown of the components driving the change in the current account balance compared with the prior quarter.