Vasily Astrov, expert on the Russian economy at the Vienna Institute for International Economic Studies, told Newsweek that "inflation has really subsided markedly over the past few months. The outcome of this policy has been a marked cooling of domestic demand, with the welcome side effect of rapid disinflation.

The decision was taken after Slovakia dropped its block on the sanctions, which provide for lowering a price cap on Russian oil exports, blacklisting 'shadow fleet' oil tankers and sanctions on companies in India and China.