The results of the EU’s 14th sanctions package against Russia have been announced

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Prices of imported goods in Russia may increase due to the EU’s new sanctions against Russia. Restrictions place restrictions on the supply of materials and equipment. BitRiver financial analyst Vladislav Antonov told socialbites.ca.

“The long-term economic consequences of sanctions could indirectly affect the standard of living of ordinary Russians, for example through a possible reduction in government revenues from energy exports. “But the specific impacts will depend on many factors, including the government’s economic policy and the country’s ability to adapt to new conditions.”

According to Antonov, restrictions on the transit of Russian LNG through European ports could make it difficult to export gas to Europe and potentially lead to reduced revenues from the sale of energy resources. The analyst added that sanctions on “shadow fleet” ships could make it difficult to exceed the price ceiling for oil and oil products, which could affect export revenues.

According to him, Russians may also experience potential difficulties in international money transfers due to measures taken against the Russian SPFS system (SWIFT-like). Antonov added that restrictions on private flights to Europe could affect Russians using such services.

On June 24, the EU adopted the 14th sanctions package against Russia’s energy, financial sector and trade.

Previously reportedThese include new EU sanctions.

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