Russia maintains a basic degree for grinding for grabbal turbulence

By Elena Fabrichnaya and Gleb Bryanski

Moscow (Reuters) – 21% of the Central Bank of Russia, inflation began to reduce inflation, but new risks facing the Russian economy due to global economic tension by US trading tariffs continued.

Russia has not taken direct import taxes from high import taxes in many countries announced by US President Donald Trump, but now a long-term increase in low oil prices – its main export and budget revenues decrease.

“In the event of an increase in trade tensions, the growth rate in the growth rate in the growth rate of the global economy and oil can affect proinfasyar, through the dynamics of the rubles,” he said.

The Central Bank, called “tectonic turn” trade wars, Elvira Nabiraullina, said that the changes in the global economy are now a key inflation factor.

“The main channel of these tariff wars in the Russian economy is the decline in the price of the main goods of our exports,” Nabiullinin said.

Low oil prices, less foreign exchange income for Russian oil exporters, become rubles at home to pay taxes at home. This will reduce the supply of foreign currency and pushing household prices and weaken the rubles.

Inflation has passed the peak

The Central Bank has been the highest level since the early 2000s has been fighting to fight inflation since the early 2000s. Rising 37% against the dollar this year, the rublegs helped to make this effort with the cheaper imported goods.

“Current inflation pressures, including the basics, continue to land despite being high,” he said. In 2026, the 2025 inflation forecast kept the forecast at 7.0-8.0%, the forecast of inflation will return to the goal of 4.0% in 2026.

Nabiullina said inflation was transferred to the peak of inflation in the fourth quarter of 2024, but the transition to the sustainable decline in the annual inflation is expected to be related to the tariffs of a short increase in the spike in July.

In addition, the reinforcement of the rubles is already more resistant to the previous year, but the exchange rate in the US dollar is still under the influence of the Russian-US talks on a peaceful settlement in Ukraine.

The Central Bank released a room for an average rate in 2025 compared to 19-22% in 19-22%.

Nabiullina will provide more oil revenues in the Price Foundation to maintain more oil revenues and create a security pillow during global turbulence, to bring a policy of such a policy to bring inflation.