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Russia’s #gold export revenues exceed #gas sales

Russia’s #gold export revenues exceed #gas sales
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Wednesday, 15 July, 2020, 01:10

Gold export in April - May 2020 became more profitable for Russia than gas sales, where Gazprom company is a monopolist, according to the Russian Federal Customs Service and the Central Bank.
In April and May alone, Russia earned $3.55 billion from the sale of gold abroad. Russian companies sold a total of 65 tons of gold.
At the same time, gas supplies for the same period brought Gazprom $2.4 billion. Gas exports for the entire second quarter of this year, from April to June, generated revenues of $3.5 billion. This is much less than the proceeds from the sale of gold. According to the Central Bank, this is the minimal amount for the quarter of the year since 2002.