Russia sells more gold than gas

RUSSIA / FSU POLITICS - In Brief 15 Jul 2020 by Alex Teddy
On July 14 it was reported that for the first time since 1994 Russian gold exports were worth more than gas exports. This statistic was true of Q2 2020 but not Q1 2020. Gold exports were worth USD 3.6 billion in April and May never mind June. Gas sales for April, May and June were USD 3.5 billion. Gold exports in April and May 2020 showed a 14 fold Y o Y increase in value. Gold prices are up 19% in 2020. People are parking their wealth in this commodity due to economic adversity. The Central Bank of Russia has temporarily stopped buying gold.Gazprom has made less money in Q2 than any quarter since 2002.

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