IMF Chief Says Russia's 2026 Growth Slows to 1% as Sanctions Outweigh Oil Gains
Updated
Updated · Euronews · Jun 11
IMF Chief Says Russia's 2026 Growth Slows to 1% as Sanctions Outweigh Oil Gains
3 articles · Updated · Euronews · Jun 11
Summary
Russia’s economy is weakening despite a recent oil-price windfall, with IMF chief Kristalina Georgieva saying 2026 growth is now effectively around 1% and the broader picture is deteriorating.
Higher oil prices from the Iran war have given Moscow only a temporary breather, she said, because the extra revenue is rebuilding depleted buffers rather than driving new investment.
Nearly 15% interest rates and high inflation point to mounting strain, while sanctions are still biting hardest on technology and limiting renewal in Russia’s oil and gas sector.
Georgieva said Russia’s medium- and long-term outlook has worsened significantly because of demographic losses, technology constraints from sanctions, and the country’s diminished international standing.