Latest news and articles about western sanctions from NEX English
Russian oil and gas revenues saw a significant decline of <strong>20.7%</strong> in May, totaling <strong>678.9 billion rubles</strong> or approximately <strong>$9.26 billion</strong>. This drop is attributed to escalating geopolitical tensions and the repercussions of the Russia-Ukraine war.
Elvira Nabiullina, the Governor of the Central Bank of Russia, has called on commercial banks to hold reserves in yuan to prevent a shortage of the Chinese currency in the foreign exchange market. This move aims to mitigate excessive lending and stabilize the financial system.
Russian presidential aide Maxim Oreshkin stated that Western sanctions have not negatively impacted the country's foreign trade. He highlighted that <strong>85%</strong> of this trade is conducted in rubles and currencies of BRICS nations, showcasing Russia's economic adaptability.
<p>Kirill Dmitriev, representative of the Russian president, revealed that the European Union is at the bottom of the list for countries seeking Russian energy supplies, highlighting a significant shift in Russia's energy policy towards alternative partners.</p><p>This statement reflects the deep changes in Russian-European relations, particularly influenced by political tensions and Western sanctions against Russia following recent events in Ukraine.</p>