Russia's economy is facing a severe crisis, former Ukrainian banking chief Kyrylo Shevchenko has said, pointing to fuel prices which have soared by 14.6% for gasoline and 11.4% for diesel since January. Mr Shevchenko, the former chief of the National Bank of Ukraine, attributed this surge - the sharpest in 13 years - to a combination of higher excise taxes, strict export bans, surging inflation, and Ukrainian drone strikes targeting key oil refineries, which he said has “sent costs skyrocketing”.