Central Bank of Russia: Oil ceiling and sanctions are among the new economic shocks

“What are the trends saying?” Prepared by the Central Bank of Russia. The partial mobilization led to a short-term decline in the Russian economy in mid-October and early November, according to the report.

In the report, which included the information that the economy returned to a stable process in the second half of November, the main reason for this was support for the orders given by the government.

In the report, it is claimed that EU countries that stop importing oil transported from Russia by sea and start applying a maximum price of $60 per barrel to Russian oil will negatively affect the Russian economy.

Noting that further EU steps could impact the economy, the report said: “European sanctions and Russian oil price spikes stand out among new economic shocks that may significantly reduce economic activity in Russia.” statement was included.

EU countries agreed on December 2 on a maximum price of $60 a barrel for oil shipped from Russia.

The G7 countries and the EU will also impose a ban on imports of seaborne oil from Russia starting December 5.

Russian officials announced that they would not sell oil or petroleum products to countries participating in the price cap application. (AA)