Send to Kindle
World markets are expecting an "insanely difficult" summer due to the partial embargo of the European Union on Russian oil, Business Insider reports, citing analyst Victor Chatenay.
According to him, the only hope for lower resource prices will be "insanely" high interest rates on loans.
"The immediate effect in the near future will be an insanely difficult and insanely stressful summer," says Chatenay.
The authors of BI believe that attempts to deprive Moscow of energy revenues did not have the expected effect.
"On the contrary, Russia now exports more oil than before the conflict in Ukraine, and thanks to the sharp rise in prices, receives about $20 billion a month from foreign buyers," Business Insider reported.
Experts interviewed by the publication believe that lower supply from Russia and higher demand could lead to further increases in oil prices, given the recovery of the tourism sector after the pandemic.
After the start of the war in Ukraine, the West stepped up pressure on Moscow. Some countries have announced a freeze on Russian assets, and many brands have withdrawn. The EU has already approved six packages of sanctions, including a gradual embargo on coal and oil imports.
Follow Novinite.com on Twitter and Facebook
Write to us at editors@novinite.com
Информирайте се на Български - Novinite.bg
/BGNES
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Along the Southern Black Sea coast, preparations are in full swing for a successful and peaceful summer season, as confirmed by Minister of Tourism Evtim Miloshev following discussions with local authorities and control institutions
Recent developments in the Ukraine-Russia conflict have heightened concerns about the potential for further escalation and the devastating impact on both nations and the broader international community
In a recent statement, Russian Deputy Foreign Minister Sergei Ryabkov issued a stern warning to Poland, asserting that any permanent deployment of NATO nuclear weapons on Polish soil would render the country a military target for Russia.
Reports confirm that Ukraine has deployed long-range ballistic missiles provided by the United States in secret, targeting Russian forces in occupied territories
Bulgaria's long-anticipated entry into the Eurozone may face a delay, as the country is unlikely to meet the inflation criterion required for the introduction of the euro on January 1, 2025
Russia has declared its intention to repatriate 48 deported Ukrainian children to their families, according to Maria Lvova-Belova, the Russian Commissioner for Children's Rights
Along the Southern Black Sea coast, preparations are in full swing for a successful and peaceful summer season, as confirmed by Minister of Tourism Evtim Miloshev following discussions with local authorities and control institutions
As summer approaches, Bulgaria's seaside tourism industry faces a daunting challenge as hotels may remain shuttered due to a severe shortage of staff
The real estate sector in Sofia has shown resilience in the face of ongoing pandemic challenges, maintaining stability across all segments in the first quarter of the year
Bulgaria has witnessed a bustling winter tourism season, with a total of 1.8 million tourists gracing its picturesque landscapes from December 1 to March 25
Trade relations between Bulgaria and Ukraine have reached unprecedented heights, with bilateral trade hitting a record 3 billion USD in 2022, according to statements made during the recent Bulgarian-Ukrainian business forum
As of 2022, the count of fellow countrymen who purchased real estate overseas reached 2,154, based on data from the National Revenue Agency referenced by "Telegraph"
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022
