Fall in oil prices poses risk to Russia–report
Russian Central Bank Chief Elvira Nabiullina —RUSSIAN CENTRAL BANK PRESS OFFICE VIA ASSOCIATED PRESS
MOSCOW—A sharp drop in global oil prices triggered by US President Donald Trump’s tariffs poses a risk to the Russian economy, the state TASS news agency cited Elvira Nabiullina, the governor of Russia’s central bank, as saying on Tuesday.
She was quoted as saying that the central bank was analyzing the fallout, but as saying that a technical budget rule would smooth out the consequences for the budget.
As of Monday, Brent and WTI had slumped 14 percent and 15 percent respectively following Trump’s April 2 announcement of “reciprocal tariffs” on all imports.
“You are absolutely right that the main channel of influence may be through changes in oil prices, specifically a decrease in oil prices,” Nabiullina said.
