The Bank of Russia spoke about the impact of gas supplies on the balance of payments

MOSCOW, 16 Sep — PRIME. The Central Bank does not make quantitative estimates of the impact of gas supplies via Nord Stream on the balance of payments of the Russian Federation, said the head of the Central Bank of the Russian Federation, Elvira Nabiullina, during a press conference.

“As for the assessments of the impact on Nord Stream, we do not make quantitative assessments of the effect of what is happening in one or another direction of supply of one or another of our resources,” the head of the Central Bank said.

At the same time, she noted that the Central Bank takes into account the increased risks that may limit the supply of energy resources from Russia, which is reflected in rather conservative approaches to assessing income from the oil and gas sector.

“It is very important to understand that we are talking about income from the oil and gas sector, because there are two values: price and volumes – the price may be lower and vice versa. We take this into account, of course, this is one of the most important factors in the forecast, but I emphasize once again that we are quite conservative here when preparing our baseline scenarios, and in October we will, of course, taking into account the incoming data, refine our forecast estimates,” she said.