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In late July 2022, the IMF upgraded Russia's GDP estimate by 2.5%, but some economists see a long-term problem for the Russian economy, and explain its resilience only by a short-term increase of energy prices. Russia was able to leverage its economic power by cutting gas supplies to Europe, and play up its agricultural might as the largest ...
The recent decline in Russian oil revenue was due to lower prices in late 2022, partly because of the price cap or discounts. According to previous reports, Russia has also resorted to deploying old and uninsured tankers from its western ports, where such discounted oil cargo was quickly snapped up by Asian traders.
Along with rising food prices, a weaker ruble following the latest round of American sanctions in November has fueled inflation and driven up the cost of imports into Russia. A huge increase in ...
MOSCOW (Reuters) -Russian President Vladimir Putin said on Thursday that he was ready to compromise over Ukraine in possible talks with U.S. President-elect Donald Trump on ending the war and had ...
As part of the sanctions imposed on the Russian Federation as a result of the Russo-Ukrainian War, on September 2, 2022, finance ministers of the G7 group of nations agreed to cap the price of Russian oil and petroleum products in an effort intended to reduce Russia's ability to finance its war on Ukraine while at the same time hoping to curb further increases to the 2021–2022 inflation surge.
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