Oil prices in Russia continue to rise, calling into question Russian President Vladimir Putin's claims that the Russian economy can balance "between war and the oil", reported Reuters.
From December 2023 until now, the price of a packet of butter has risen by 25.7 percent, according to data from the National Statistical Office. At the same time, Reuters reporters found that a package of oil "Brest-Litovsk" is up 34 percent since the start of the year to 240 rubles ($2.50).
"Armageddon with oil escalates. We will not be surprised if last year's situation with eggs repeats", warn economists on the popular Telegram channel MMI.
The rise in price leads to frequent theft of butter from supermarkets, Russian media write. Shop owners are already starting to put the packets in sealed plastic boxes to prevent theft.
The authorities are monitoring the situation closely, trying to ensure that the war in Ukraine does not adversely affect daily life in Russia, according to Reuters.
Dmitry Patrushev, deputy prime minister in charge of agriculture, said a week ago that the government would monitor oil prices. He met with dairy farmers and traders and indicated that imports will accelerate.
According to Russian media, the import of oil from Belarus is insufficient and it is planned to increase supplies from Turkey, Iran and even India.
For now, the Russian economy continues to withstand the pressure of international sanctions, but prices continue to rise. Inflation for this year is expected to be at a level of 8-8.5 percent, which already forced the Central Bank to raise the main interest rate last week to 21 percent - its highest level since 2003.
The former chief economist of "Goldman Sachs" (Goldman Sachs) Jim O'Neill, who in 2001 coined the term BRIC to refer to the group of Brazil, Russia, India and China, predicted that if Russia continued its massive military spending, as planned in next years, the situation will only get worse.