Regulator sees limited impact from Russia’s gasoline imports on overall trade flows

ST. PETERSBURG, July 2. /TASS/. The Bank of Russia does not expect a significant impact on imports from Russia’s purchases of gasoline from other countries, but is assessing the situation, Director of the regulator’s Monetary Policy Department Andrey Gangan said.

"The scale and volume of imports are unclear to us, which makes it difficult to provide precise estimates. However, we do not believe this will have a significant impact on imports. While there may be some uptick in imports in this category, the volumes are unlikely to be large enough to fundamentally alter the established trends in trade flows," he said during the Bank of Russia's Financial Congress.

The Central Bank is in close contact with the government regarding the measures it is taking to support the market, Gangan noted. Based on this information, the regulator will update its inflation forecast.