https://sputnikglobe.com/20230131/imf-does-not-expect-wests-price-cap-to-significantly-affect-russian-oil-exports-weo-1106842144.html
IMF Does Not Expect West’s Price Cap to Significantly Affect Russian Oil Exports
IMF Does Not Expect West’s Price Cap to Significantly Affect Russian Oil Exports
Sputnik International
The International Monetary Fund (IMF) said the current price cap imposed by Western countries on Russia’s oil exports will not significantly affect it volumes of petroleum trade
2023-01-31T04:36+0000
2023-01-31T04:36+0000
2023-01-31T04:41+0000
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russia
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“At the current oil price cap level of the Group of Seven, Russian crude oil export volumes are not expected to be significantly affected, with Russian trade continuing to be redirected from sanctioning to non-sanctioning countries,” the IMF said in its updated World Economic Outlook on Monday.The International Monetary Fund (IMF) revised Russia's economic growth forecast upward by 2.6 percentage points to 0.3% in 2023, according to its updated World Economic Outlook (WEO).The IMF also projected that in 2024, economic growth in Russia will reach 2.1%, which is 0.6 percentage points better than its previous forecast.The WEO also noted that the economic contraction of -2.2% in Russia in 2022 was much smaller than it had predicted at -3.4%.
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current price cap, russia’s oil exports
current price cap, russia’s oil exports
IMF Does Not Expect West’s Price Cap to Significantly Affect Russian Oil Exports
04:36 GMT 31.01.2023 (Updated: 04:41 GMT 31.01.2023) WASHINGTON (Sputnik) – The International Monetary Fund (IMF) said the current price cap imposed by Western countries on Russia’s oil exports will not significantly affect it volumes of petroleum trade.
“At the current oil price cap level of the Group of Seven, Russian crude oil export volumes are not expected to be significantly affected, with Russian trade continuing to be redirected from sanctioning to non-sanctioning countries,” the IMF said in its updated World Economic Outlook on Monday.
The International Monetary Fund (IMF) revised Russia's economic growth forecast upward by 2.6 percentage points to 0.3% in 2023, according to its updated World Economic Outlook (WEO).
The IMF also projected that in 2024, economic growth in Russia will reach 2.1%, which is 0.6 percentage points better than its previous forecast.
The WEO also noted that the economic contraction of -2.2% in Russia in 2022 was much smaller than it had predicted at -3.4%.
