The World Bank warned of the biggest price crisis since the 1970s, and Bloomberg learned about Gazprombank’s rejection of gas payments for Germany and Austria – these and other important news for Thursday morning, April 28, in our daily review.

The world economy is facing its worst price crisis since the 1970s, World Bank experts said in a new report on the outlook for commodity markets. The bank predicts that in 2022, energy will rise in price by more than 50% and non-energy commodities by almost 20%.

Gazprombank has refused to pay for some April and May gas deliveries from Russia to Germany and Austria. Gazprom Marketing & Trading (GM&T) sent the payments to a ruble account, as Russia demanded, Bloomberg writes, citing sources.

Germany may support the EU’s refusal from Russian oil supplies if it is phased. This is reported by Bloomberg with reference to sources.

Euro exchange rate on the Moscow Exchange fell at the beginning of trading on April 28 by 95 kopecks – to 74.35 rubles. Last time the European currency was traded below the mark of 75 rubles in March 2020.

The Russian Ministry of Finance has submitted to the government a draft decree to reduce the rate on preferential mortgages to 9%, banks will start to issue such loans from May 1, and budget expenditures for the program of preferential mortgages in 2022-2033 are estimated at 461 billion rubles.