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Russia's central bank just issued a warning about 'new economic shocks,' and it shows the new $60/barrel cap on oil is working
1 month ago | 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 the Kremlin's general skepticism over the West's myriad economic sanctions, analysts at the...
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