The expert assessed the change in the rules of export of gold

A sharp drop in gas demand was the reason that Russia's revenues from exports of gold exceeded the revenue from gas, also contributed to this change in April of the rules of the export of gold abroad, said RIA Novosti head of the analytical Department AMarkets Artem Deev.

The export of gold from Russia in the second quarter of 2020 exceeded in monetary terms, the exports of pipeline gas, from the data of the Federal customs service and the Central Bank. According to the FCS, in April-may, Russian companies exported gold by 3.55 billion, and income from the export of pipeline gas, a monopoly which has "Gazprom" amounted to $ 2.4 billion. And according to the Central Bank, in General, for the second quarter of exported gas for $ 3.5 billion.

"Data on the gas sales for the second quarter of 2020, the lowest since 2002. This is three times less than it sold gas in the first quarter of this year and five times less than in 2010," said Deev.

The expert explained that caused such dynamics of the fall in world demand for gas, which has strengthened pandemic coronavirus. Against this background, stopped gas supplies through the pipeline "Blue stream" to Turkey (with reference to sources reported by Reuters). Also decreased and the average price of a gas contract.

"Compared to the average price in the year 2019, the price of Russian fuel fell twice 94 USD per thousand cubic meters, which is below the point of profitability of "Gazprom", which is 105 dollars per thousand cubic meters", - said the expert.

"In addition, in April changed the rules of the export of gold abroad - miners and smelters were equal export rights with the banks that gave the opportunity to increase exports. In the future, it is likely that the sale of gold is also retained at a high level (Russia produces large amounts of the precious metal, while demand in the world market during the crisis, gold is very high). The demand for natural gas will recover for a long time", - concluded the Deev.