"The Central Bank of the Russian Federation warned of a reduction in budget expenditures if oil prices do not increase. ' Russia has lost trillions of dollars due to the undervaluation of its oil and petroleum products. said Igor Artemyev, head of the St. Petersburg International Mercantile Exchange."
"The imposed restrictions are intended to complicate the servicing of Russia's military-industrial complex and to limit its capacity to produce weapons and military equipment used in the war against Ukraine."
Russia has lost trillions of dollars amid undervaluation of its oil and petroleum products, according to Ukraine's Foreign Intelligence Service (FISU). The Central Bank of the Russian Federation warned of a reduction in budget expenditures if oil prices do not increase. From 1 January 2026 Russia's VAT rose from 20% to 22%, and experts warn of overall price increases during the first six months. Custom fees and costs of customs clearance for certain imports will rise. Ukrainian President Volodymyr Zelensky imposed sanctions on 95 people and about 70 entities linked to Russia's military-industrial complex, including electronic warfare, communications, microelectronics manufacturers, and security agencies, with asset freezes, bans on managing or selling property, and suspension of transit flights and transportation through Ukraine.
Read at London Business News | Londonlovesbusiness.com
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