In the second quarter of 2021, the volume of Russian exports broke the pre-pandemic level – indicators of the same period in 2019, according to the documents of the Russian Central Bank. The growth of world prices for raw materials helped to overcome the crisis.

Exports of natural gas grew most noticeably in value terms – by 131 percent on an annualized basis and by 10 percent compared to 2019. Gas prices have increased substantially due to high demand, in Europe in June the cost reached a maximum in seven years, the regulator noted. Gas prices have risen nearly 90 percent this year after cold weather last winter forced cities to use up their reserves, according to estimates after the end of half a year.

Oil exports in the second quarter were up 84 percent on an annualized basis due to more than doubling the price of the Urals brand, given the very low base of the same period in 2020. However, the indicators of 2019 could not be beaten due to the production limitation provided for by the OPEC+ agreements.