Gascade gas compressor station in Eisleben. Archival photoMOSCOW, 27 Apr. Russia will slightly suffer economically if the European Union refuses its energy resources, unlike the Czech Republic and Germany, Lukasz Kovanda, chief economist at Trinity Bank Prague, wrote in an article for the iDNES.cz portal. According to his forecasts, in the event of an oil embargo and a two-thirds reduction in gas supplies to the EU, it can be expected that this year the Russian side will still achieve a foreign trade surplus of approximately $ 200 billion, which is in line with last year's figures.
"Russia would not suffer much economically due to the EU disconnecting from its gas and oil", said Kovanda.
The economist noted that Moscow is benefiting from the fact that this year oil prices are rising and gas prices are holding high. «, — concluded the author of the publication. On February 24, Russia launched a military operation in Ukraine. In response, Western countries imposed large-scale sanctions against Moscow, which primarily affected the banking sector and the supply of high-tech products. Some brands announced the cessation of work in the country.
Bulgaria announced the cessation of Russian gas supplies from April 27The Kremlin called these measures an economic war similar to which hasn't happened yet. The authorities declared their readiness for such a scenario and assured that they would continue to fulfill social obligations. The Central Bank is taking measures to stabilize the situation in the foreign exchange market. The authorities also announced the transfer of payments for gas supplies to unfriendly countries into rubles. The government has prepared a plan to counter sanctions, which includes about a hundred initiatives. Its funding will amount to about a trillion rubles.Read the full text of the article on the InoSMI website>>
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