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Sberbank CEO forecasts depletion of Russia's mineral resources in 2028-2030

German Gref has once again called for diversification of the Russian economy

© Viktor Drachev/TASS

MOSCOW, October 4. /TASS/. Sberbank CEO German Gref thinks that Russia may run out of mineral resources by 2028-2030.

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Should Russia get rid of its dependence on oil exports?

In an interview with the Pozner TV show he said: "Now we're talking about when we may run out of this [oil and gas] mono-product. In my opinion, this may happen around 2028-2032, when - in my opinion - though I may be wrong - but considering all the trends that we see today, there won’t be such a super raw cycle time anymore, so we have to get ready for it," he said.

According to the head of Sberbank, traditionally withdrawing from "mono-resource" conditions [full dependence on raw materials - TASS] is very painful for the economy." He expressed hope that a foundation has been laid for changing the quality of Russia’s economic growth.

"We should strive for new dynamics, for diversification of the economy. Now more and more people start thinking about it. The experts have been talking about it for a long time, and it seems to me, the people in power today are already quite well aware of the situation," he said.

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