Prolonged Middle East Conflict to Increase Negative Impact on Russia - Nabiullina

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Prolonged conflict in the Middle East could exacerbate pressure on the Russian economy, amplifying negative consequences, Russian Central Bank Governor Elvira Nabiullina said following a board meeting.

According to her assessment, the situation surrounding Iran and the region as a whole remains a significant source of external risks for Russia. An intensification and prolongation of the conflict, Nabiullina noted, would be accompanied by an increase in negative effects on the economy.

She stressed that potential costs associated with a global rise in expenses—including logistics, energy, and financial conditions—could outweigh positive factors, such as increased export revenues and a stronger national currency.