The Central Bank of Russia has assessed the impact of recent sanctions
The Central Bank of Russia, in its commentary on its medium-term macroeconomic forecast published on February 26, said: “The growth rate forecast for physical exports for 2025 was lowered by 1 percentage point to -0.5-1.5% due to increased sanctions on certain commodity markets. The 2026 forecast was slightly increased due to the assumption that exports would recover as new logistics chains were built and new markets were reoriented.”
In February, the European Union, Great Britain and Canada extended their sanctions against Russia.
The UK added 40 oil tankers from Russia to their sanctions list. The European Union imposed sanctions on 48 individuals and 35 organizations linked to Russia. In addition, the Council of the EU has established two new criteria that allow the EU to impose restrictive measures on individuals and organizations involved in Russia’s “shadow fleet” and those who support or benefit from the Russian military-industrial complex. Restrictions were also imposed on the importation of primary aluminum, as well as on the temporary storage of Russian crude oil and petroleum products in the EU, irrespective of the purchase price of oil or the final destination of these products.
