According to a source familiar with the situation, the Russian economy ministry has reduced its outlook for economic growth this year to 2.9 percent from 3.3 percent.

According to the source, the ministry has lowered its 2022 outlook from 3.4 percent to 3.2 percent.

Increased its estimate for Urals oil price to $60.3 per barrel this year from $45.3 per barrel previously, while keeping the main pace at 5% or lower by year's end and inflation at 4.3 percent.