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Russian Crude Supplies to Poland Expected to Halve in Feb

RUSSIA
  • Russian crude supplies to Poland via the Druzhba oil pipeline are expected to more than halve this month, Bloomberg report. Flows are planned at about 220,000 tons in February, down from 500,000 tons in January, according to those familiar with the matter.
  • The Times report that a prominent Russian MP has claimed there is a growing danger that “ultra-patriots” might attempt to overthrow President Putin because of discontent over the army’s failures in Ukraine. Oleg Matveychev, a member of the pro-government United Russia party said that ardent supporters of the war in Ukraine posed the greatest threat to Putin’s rule. “The situation is not so critical yet, but 2023 will be very dangerous,” Matveychev said in an online video interview.
  • The G7 and the EU member states agreed late last Friday to impose a cap of $100 per barrel on sales of Russian diesel to third countries as part of an effort to limit Moscow’s revenues. The measures became effective as of Sunday.
  • In the near future, President Putin will hold a series of meetings with governors, whose term in office expires this year, Kommersant reports.
  • There are no major economic releases or speakers scheduled today. Looking ahead this week, retail sales, unemployment rate and CPI data are all on the docket, with the CBR rate decision taking focus on Friday.
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