Bloomberg analysts are predicting a massive year for Russian energy exports that could see a record income of $321bn – up a third from 2021 – as gas prices on the spot market have quintupled in the past year.
A current-account surplus of $240bn could also be achieved despite the ruble’s weakened value – or perhaps because of it, according to German Science and Politics researcher Janis Kluge.
“If we multiply the oil price by the ruble exchange rate, it shows that Moscow expected revenues of around 4,500 rubles per barrel of oil, but is getting much more, around 7,000 rubles,” he said.
Iran wants to trade with Russia in national currencies – Central Bank (sputnik)
Iran would like to conduct trade with Russia using the two countries’ national currencies – the ruble and the toman, and agreements on this matter already exist, Iranian Central Bank Vice Governor Mohsen Karimi has said.
“The relevant agreements and opportunities already exist. Iran would like to use them to conduct trade operations with Russia in rubles and tomans,” Karimi told Sputnik on Friday.Trade turnover between Russia and Iran hit a new record in 2021, exceeding the equivalent of $4 billion, with Russian exports to Iran accounting for over $3 billion of this figure, and imports from the Islamic Republic reaching $967.3 million, a 21.4 percent jump compared to the previous year.
During a two-day visit to Moscow in January, Iranian President Ebrahim Raisi said that the two countries had discussed monetary and banking issues, and agreed to remove trade barriers to increase trade to the equivalent of $10 billion a year.