Russia’s Central Bank indicated that the ongoing conflict in the Middle East is contributing to inflationary pressures within the Russian economy. Governor Elvira Nabiullina stated that a resolution to the conflict would likely alleviate these risks. The central bank has been closely monitoring the situation, assessing its potential impact on domestic prices. While not specifying the exact mechanisms, the implication is that the conflict is driving up costs related to energy, trade, or financial markets. A cessation of hostilities would therefore contribute to greater economic stability for Russia. The CBR continues to implement measures to control inflation, but acknowledges external factors play a significant role. Nabiullina’s comments highlight the interconnectedness of the global economy and Russia’s vulnerability to regional instability.