Russia's central bank just issued a warning about 'new economic shocks,' and it shows the new $60/barrel cap on oil is working

Dec 8 2022 by Business Insider

 
President Vladimir Putin's partial mobilization of men for the Ukraine war hit the Russian economy briefly, but it has since overcome the slump, said the Bank of Russia.

Mikhail Metzel

The price cap on Russian crude and EU's oil embargo present "new economic shocks," the Bank of Russia said. They could "significantly reduce" Russia's economic activity in the coming months, per the bank. Russia is mulling options to counter the price cap, including banning oil sales to some countries.

Despite...

Continue Reading Russia's central bank just issued a warning about 'new economic shocks,' and it shows the new $60/barrel cap on oil is working