In early 2020, the new coronavirus (COVID-19) began to spread around the world. It is likely to substantially affect many businesses across different sectors. In March, the global oil prices plummeted more than 40%, immediately resulting in the Russian ruble’s depreciation against major foreign currencies.
At the time of publication of this Annual Report, amidst increased uncertainties across the global markets caused by the coronavirus epidemic, NSD is analyzing different development scenarios.
Coronavirus consequences and RUB exchange rate volatility might have impact on NSD’s performance in 2020.
Significance of COVID-19's impact on NSD will largely depend on how long and how deep the virus affects both the global and Russia’s economy.
