Russian Central Bank authorities warn against further depletion of the sovereign fund and with no takers on any Russian bond offerings whether denominated in $USD, Euros or any other G7 recognized currencies to bring in needed revenues.
The Russian Central Bank further states that the unofficial inflation rate due to very low imports and continued shrinking of exports due to international sanctions is exceeding the 10% range prompting the need for yet another large rate increase above the existing 8.50% rate.
