FX.co ★ Russian Trade Balance Holds Stable in September

Russia’s trade surplus edged down to $12.08 billion in September 2026 from $12.24 billion a year earlier, despite a sharp increase in overall trade turnover. Exports rose 12% year-on-year to $42.6 billion, driven by stronger foreign demand for energy commodities after the blockade of tankers leaving the Persian Gulf sent global oil and fuel prices sharply higher and boosted Asian demand for Russian oil alternatives. Growth in energy exports was limited, however, as Ukrainian drone strikes on Russian refineries prompted Moscow to ban diesel exports. At the same time, higher goods inflation and deeper integration with the financial systems of non-Western countries pushed imports up 18.3% to $30.53 billion.