Russia’s Central Bank Governor Elvira Nabiullina said on Tuesday that Russia has lost some $160 billion due to decline in oil prices from $100 per barrel to $45 per barrel.
“The decrease in oil prices from $100 to $45 per barrel has left to a drop in export revenues of $160 billion in annual terms, according to our estimates,” Nabiullina told journalists.
Nabiullina also told journalists that the central bank’s monetary policy will remain tight, with key interest rate remaining positive, which means above inflation rate.
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