FX.co ★ Russia Trade Surplus Declines Sharply

Russia recorded a trade surplus of $6.6 billion in January 2026, the third-lowest figure since the Covid-19 pandemic triggered a shock in global oil demand, and a marked decline from the $7.4 billion surplus posted in the same month a year earlier. Exports fell by 9.1% year-on-year to $27.5 billion, the weakest level in five years, weighed down by lower crude oil prices and the gradual reduction in purchases by Indian refiners following US sanctions on Lukoil and Rosneft. Imports declined by 7.4% to $20.9 billion, the steepest drop in eleven months, as a weakening domestic economy curbed demand for goods.