Finance

Exports are falling and imports are growing. The Central Bank of Russia has calculated the balance of payments for Q3

The value of exports of goods and services rose 5% y/y in Q3 2022 - a lower growth rate than in Q2. The decline in the value of imports slowed to 14% y/y in Q3 2022.

The growth rate of exports fell due to the shutdown of Nord Stream 1. And imports picked up a bit because of the reorientation to other markets.

So far, the budget is still in surplus, which means we should not wait for ruble devaluation. For now.

ECB tries to save EU economy - central bank will be flexible in reinvesting PEPP program

The pandemic has left persistent vulnerabilities in the eurozone economy that contribute to the uneven normalization of our monetary policy among different countries, the ECB said. The ECB has instructed Eurosystem committees and ECB services to accelerate the development of a new mechanism to combat fragmentation. Why it matters. Rising

Price for oil price cap yet to be determined, head of European Commission

"The EU is ready in principle to go to the oil price cap," von der Leyen added. Earlier, the head of the U.S. Treasury Yellen said that the U.S. is not against the purchase of oil by India above the price cap. The WSJ also reported citing sources

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

India and China - Russia's most important trading partners - will not participate, Bloomberg sources said. The price cap plan is still alive after all. However, the price cap will be higher than previously thought. Earlier, U.S. Treasury Secretary Yellen said the price ceiling could be in the range

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