Russia’s current account surplus plummeted by 78.7% to USD 50.2 bln in 2023, down from a record USD 238 bln in 2022. The trade surplus fell by 63% to USD 118.3 bln from an all-time high of USD 315.6 bln in 2022. In a separate development, NATO cautioned that the West needs to be better prepared for unforeseen scenarios, including potential conflict with Russia. This warning preceded NATO’s largest military exercise since the end of the Cold War.