In the report titled "Financial Stability Outlook" published by the Central Bank of Russia, the impact of the sanctions imposed by Western countries on Russia was evaluated.
In the report, which pointed out that Western countries increased the sanctions pressure in the last quarter of 2023 and the first quarter of this year, "New restrictions target not only Russian companies but also companies in friendly countries."
In the report, which stated that secondary sanctions affect exports and imports, "As a result, there may be a decrease in exports and imports, deterioration in the competitiveness of Russian goods in the global market, as well as complexity in logistics and international payments."
In the report, it was stated that Russia experienced a decline in the production of oil, natural gas and petroleum products in the last quarter of 2023, "Companies continue to adapt to sanctions and develop the Eastern direction, but it has not yet been possible to fully compensate for falling export volumes."
Russian exporters are looking for new markets, the report said:
"Supply chains and payment mechanisms are becoming more complex due to secondary sanctions, leading to higher import prices and supply disruptions."
