ARAF to check information from new ARD film on doping in Russian sportSport January 22, 22:47
All countries observe oil output cuts agreement — Russian energy ministerBusiness & Economy January 22, 16:59
Rogozin calls "dangerous incident" UK botched missile launchRussian Politics & Diplomacy January 22, 16:32
Medvedev calls United Russia ruling party, president's main resourceRussian Politics & Diplomacy January 22, 16:27
Mutko calls silly information Infantino asks him not to run for RFU headSport January 22, 16:24
Seven parties to participate in Syrian talksWorld January 22, 9:54
Russia’s Pavlyuchenkova reaches Australian Open quarterfinalsSport January 22, 7:19
IBU Executive Board finds no grouns to suspend Russia's biathlon teamSport January 21, 22:53
Russia terrified watching monuments destroyed in Palmyra — culture ministerRussian Politics & Diplomacy January 21, 17:08
MOSCOW, December 25. /TASS/. Chief Executive Officer of Russia’s top lender Sberbank expects the trend of weakening ruble to persist in 2016, he said in an interview aired by the Rossiya-24 TV news channel on Friday.
"Oil prices are very tightly bound to the Federal Reserve policy. All key trends are related to further reduction. The dollar is most likely to strengthen. The Federal Reserve will tighten its policy, which means dollars will outflow from the biggest derivatives market, meaning the oil market. From the viewpoint of the monetary environment the oil price will fall, pushing the ruble down," Gref said.
However, the current crisis will be less painful for entrepreneurs than the crisis of 2009, Sberbank CEO noted.
"To our surprise, this crisis is much less painful than the crisis of 2009. It is beneficial to borrowers. A lot of these "bubbles" — entrepreneurs snapped in 2008-2009," he said.
Gref noted that currently the banking sector has much less of fraudulent schemes. "We see that businessmen want to fight to save their companies," he added.
According to Gref, the difficult situation in the banking sector continues, but 2016 will be easier for the banks.
"The most difficult year for banking was 2015. If no further extraordinary events happen next year, this year is likely to be generally easier for the banking sector, not for the economy as a whole," Sberbank CEO concluded.