Russia is not publishing economic data.
Russian authorities have banned the publication of data on Government debt, trade and oil production statistics.
Russia’s central bank has limited the volume of financial information that domestic banks must publish regularly, while lawmakers are working on a bill banning lenders from sharing data with foreign countries.
The ban is part of an effort by Russian authorities to protect the economy and domestic companies from further Western sanctions following Moscow’s military aggression in Ukraine.
“They are trying to ‘darken’ the economic situation. We already have restrictions from the Russian media and the same goes for access to statistics. “The Iron Curtain is appearing from both sides,” said Elina Ribakova, deputy chief economist at the Institute of International Finance.
Sanctions have cut Moscow off from much of Western financial infrastructure.
Economists are predicting a deep recession, combined with rising inflation. Unemployment in Russia is rising amid a massive exodus of Western companies.
Russian President Vladimir Putin recently said that Western sanctions have hampered the country’s energy industry.
