New sanctions starting to bite Russia's economy as Moscow admits deficit impact

[Yo_Mama_Been_Loggin]

Russian Finance Minister Anton Siluanov reportedly told journalists Tuesday that an oil price cap imposed by the Group of Seven major economies is squeezing Russian export income and will potentially push Moscow's budget deficit higher than the expected 2% of GDP next year.

"It's still too early to fully assess the impact of the G7 oil price cap and the EU's ban on Russian crude imports which came into effect on 5th December, but initial signs suggest that Russia's economy is starting to feel the pinch," said Nicholas Farr, emerging Europe economist at Capital Economics.

The latest round of Western sanctions against Russia over its invasion of Ukraine are beginning to pinch the country's economy.

Russian Finance Minister Anton Siluanov reportedly told journalists Tuesday that an oil price cap imposed by the G-7 (Group of Seven) major economies, as well as the European Union and Australia, is squeezing Russian export income and will potentially push Moscow's budget deficit higher than the expected 2% next year.

https://www.msn.com/en-us/money/markets/new-sanctions-starting-to-bite-russia-s-economy-as-moscow-admits-deficit-impact/ar-AA15I2Jd

[Lovie777]

1. Well the 2020 and 2022 elections did not go as plan .....

twitter if they keep going into outrageous mode, many countries and people will drop them, and Musk's Tesla is dying mainly because his Middle Easterner buddies are pro-oil.

Ukraine is fighting for love of country and Russia's elites are getting fed up. Sanctions are working.