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Russia’s central bank cuts monthly foreign trade data

Russia’s central bank announced on Monday that it had temporarily suspended its monthly foreign trade data in its first such suspension since 1997. The central bank was due to release its January-February foreign trade balance on Monday. initially scheduled according to the data publication schedule. The central bank has not explained what lies behind its decision to suspend the publication of foreign trade data, the monthly data of which can be tracked since 1997 on the bank’s website.

In January, according to the latest available data, Russia’s foreign trade surplus fell to $ 21.17 billion from $ 26.72 billion the previous month.

Sanctions have cut Russia off from the global financial system and Western countries are stepping up pressure by reducing Russian energy imports.

The central bank had earlier suspended the weekly publication of its gold and foreign exchange reserves and also stopped revealing banking sector statistics. The bank resumed publication of these weekly data, which showed that Russia’s gold and foreign exchange reserves fell to $ 606.5 billion as of April 1, from $ 643.2 billion a few days before the invasion.

The Russian Ministry of Energy had earlier suspended the monthly publication of data on oil and gas production due to technical issues.

Source: Capital

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