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Negative effect for Russia to grow from protracted conflict in Middle East

The situation in the Middle East remains an important peril for the Russian economy as regards external conditions, Elvira Nabiullina noted

MOSCOW, April 24. /TASS/. Negative effects for the Russian economy will grow if the conflict in the Middle East takes more time, Central Bank chief Elvira Nabiullina said at the press conference after the Board meeting.

The situation in the Middle East remains an important peril for the Russian economy as regards external conditions, she noted. "If the conflict protracts, adverse effects for the Russian economy will grow," Nabiullina stressed.

"Consequences caused by the global rise in costs may turn out to be stronger than advantages received from growth of exports and ruble appreciation," she added.