NBU denies possible influence of sanctions on hryvnia exchange rate, inflation

16:53, 25.04.2019 1 min read

The National Bank of Ukraine (NBU) does not expect that restrictions imposed by the Russian Federation on export of some goods to Ukraine would significantly influence the hryvnia exchange rate, NBU Governor Yakiv Smolii has said.

"Yesterday, at the committee, we discussed the possible impact of sanctions on petroleum products, which the Russian Federation adopted, as well as how this may affect prices. We considered that Ukrainian suppliers of diesel could turn to other markets," Smolii said, answering the question of Interfax-Ukraine.

At the same time, he said that this factor may have a slight impact on prices over changes in logistics. "However, I do not see that this can significantly affect prices this year," he said.

"Most goods are not subject to direct prohibition – only licensing," Deputy NBU Governor Dmytro Sologub said. He also added that the National Bank does not expect a significant impact of the election cycle on the economic situation.

"The election cycle, the political cycle – they will not have a significant impact," Sologub said.