Inflow of dollars into russia falls to level of mid-1990s

Due to the strengthening of Western financial sanctions, which, according to the Central Bank of the russian federation, have already affected 95% of the national banking system, the russian economy is experiencing a growing deficit of key world currencies.

This is reported by The Moscow Times, the Ukrainian News agency reports.

According to estimates, by the end of 2024, russia received only about USD 70 billion in foreign exchange earnings in dollars and euros, Alfa-Bank analysts estimate, citing Central Bank statistics.

According to the Central Bank, in January-November, russian exporters exported goods worth USD 386 billion, and by the end of the year, according to the regulator's forecasts, export revenues will amount to about USD 420 billion.

However, as noted in Alfa-Bank, only 18% of these supplies are paid in dollars and euros - the key currencies of world trade, which, according to SWIFT, account for 70% of global trade.

It is noted that according to the Central Bank, 43% of exports as of November were paid in rubles, and 38.6% in "other currencies", the main one of which for russia was the Chinese yuan.

As the Ukrainian News agency earlier reported, the last of the large state-owned banks in russia, which retains access to the SWIFT system and settlements in major world currencies, will become the object of new U.S. sanctions.

In mid-November, the White House considered the possibility of including Gazprombank (GPB) - the third largest bank in the russian federation by assets, which is a "hub" for gas settlements with Europe, in the "blacklist".

On January 10, the U.S. imposed sanctions targeting russia's main source of revenue with sanctions against Gazprom Neft and Surgutneftegaz, more than 180 vessels, as well as dozens of oil traders, oilfield service providers, insurance companies, and energy officials.

To request a correction, please send an email.