IMF chief Kristalina Georgieva
Oil exports to India and China will not have a “lasting impact” on the Russian economy, Kristalina Georgieva believes.
Russia’s economic prospects after 2023, against the backdrop of the war it is waging against Ukraine, are “highly devastating.” In particular, the Russian economy will shrink by at least 7%. This was stated by the head of the International Monetary Fund (IMF) Kristalina Georgieva, reports The Telegraph.
“When you take our forecasts for the medium term, they mean that the Russian economy will shrink by at least 7%,” she said.
The Russian economy will suffer over time due to the emigration of workers, the denial of access to technology and the imposition of sanctions against the country’s energy industry, the head of the IMF emphasizes.
While Russia has managed to funnel some of its oil sales outside European markets to China and India, she said, this will not have a “lasting impact” on the country’s economy.
“We don’t see Russia getting any benefit from what it has done to Ukraine and to itself,” Georgieva concluded.
As you know, on December 5, 2022, the EU embargo on offshore oil supplies from the Russian Federation came into force. The G7 countries, the EU and Australia have introduced a price ceiling for Russian oil delivered by sea at the level of $60 per barrel for their subordinate vessels and territories.
From February 5, 2023, similar restrictions on the supply of petroleum products from Russia began to operate.
In Russia, estimated the fall in oil and gas revenues
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