Russia Faces Challenges with Growing Export Payment Delays
Revenues from Russian exports are accumulating abroad due to increasing delays in international trade settlements, caused by U.S. pressure on financial institutions in countries maintaining friendly relations with the Kremlin.
According to data released by the Central Bank of Russia on Thursday, foreign financial assets grew by nearly $60 billion in the first 11 months of 2024, compared to $43 billion during the same period last year. In November, these assets increased for the third consecutive month.
The Central Bank attributed the rise in accounts receivable for Russian companies to delays in external trade payments.
It will be interesting to see how this situation is addressed. Previously, similar challenges were mitigated by reinvesting the funds for better times. However, one cannot endlessly earn without retaining anything.
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Revenues from Russian exports are accumulating abroad due to increasing delays in international trade settlements, caused by U.S. pressure on financial institutions in countries maintaining friendly relations with the Kremlin.
According to data released by the Central Bank of Russia on Thursday, foreign financial assets grew by nearly $60 billion in the first 11 months of 2024, compared to $43 billion during the same period last year. In November, these assets increased for the third consecutive month.
The Central Bank attributed the rise in accounts receivable for Russian companies to delays in external trade payments.
It will be interesting to see how this situation is addressed. Previously, similar challenges were mitigated by reinvesting the funds for better times. However, one cannot endlessly earn without retaining anything.
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