Sanctions have cut Russia off from much of its Western financial infrastructure.
In Russia, stopped publishing data on public debt, trade statistics, and limited financial information to hide the negative impact of sanctions imposed by the West in response to Russia's full-scale invasion of Ukraine, according to The Wall Street Journal.
In recent days, the Russian authorities have stopped publishing information on public debt, imports and exports, as well as information on oil production. Also, according to the WSJ, the amount of financial data that Russian banks must publish regularly is currently limited by the Central Bank of Russia.
In addition, Russia is developing a bill that may prohibit creditors from exchanging data with foreign countries. This is probably part of the Kremlin's efforts to protect the economy and companies from further Western sanctions.
Restricting economic data means that the United States and the European Union will be less aware of how sanctions affect Russia's economy. This may make it difficult to find new targets for future restrictive packages.
“We have bans on the Russian media, and now the same goes for access to statistics. The Iron Curtain is rising on both sides, “said Elina Rybakova, deputy chief economist at the Institute of International Finance of the Russian Federation.
Sanctions have cut Russia off from much of the West's financial infrastructure. Economists predict a deep recession combined with sharp inflation. Unemployment in Russia is rising against the backdrop of Western companies.
Last week, a division of the Russian Ministry of Energy, which publishes monthly data on oil production and exports, said restrictions on “dissemination of information that can be used as additional pressure on the Russian market and its participants. “
It is reported that the dissemination of monthly data on oil production, as well as data on oil shipments from Russian refineries and refineries to domestic and export markets has been suspended indefinitely.
At the same time, the Russian government continues to publish data on inflation and GDP. , however, the information is presented in abbreviated form.
In particular, the Central Bank of the Russian Federation has suspended the publication of the schedule of payments on foreign debt. Repayment of foreign debt has become a difficult issue as Russia balances on the brink of default on its international bonds. In addition, most of Russia's gold and foreign exchange reserves have come under sanctions, so Russia is now unable to make some payments in dollars.
Read also: Bloomberg: EU considers three options for restrictions on Russian oil
Earlier it was reported that the EU is working on a new package of sanctions against Russia. The sixth package of EU sanctions against Russia will be aimed at banks, including Sberbank and oil, said European Commission President Ursula von der Leyen.
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