[NEWS] Central Bank analysts told when the main effect of sanctions on oil will appear

The main negative impact of sanctions against Russia in the oil industry will manifest itself next year. This forecast is given by analysts of the Bank of Russia, according to RIA Novosti .

“The main negative effect of external restrictions in the oil industry and on the supply of investment and high-tech goods, apparently, is ahead,” analysts point out, explaining that “they will manifest themselves by the end of this year, and mainly in 2023.”

According to them, before that time, the transition of the Russian economy to sustainable growth “is unlikely to happen.”

Earlier, a senior European source acknowledged that at present the EU’s scope for new sanctions on Russia is “very limited”, and at the moment the EU sees the most important thing is their implementation and prevention of circumvention of restrictions by third parties.

In addition, the source added, the EU expects third countries to join the sanctions against Russia, which is “sometimes more important than new sanctions.”

Prior to this, Austrian Foreign Minister Alexander Schallenberg said that the eight packages of sanctions imposed against Russia would have an impact on it, but patience must be shown until the moment they take effect.

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