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Minister doesn't expect US election results to to tell on Russian economy

November 08, 2016, 19:37 UTC+3
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ROME, November 8. /TASS/. Results of the presidential elections in the United States are unlikely to tell on the volatility of Russia’s national currency, the ruble, Russian Minister of Economic Development Alexei Ulyukayev said on Tuesday.

"I don’t think [US’ presidential elections] might seriously tell [on the ruble volatility]. Thus, everybody widely discussed Brexit’s possible impacts on Russia but the result was unexpected for all - least impact. I think we will have the same with the American elections. Some short-term fluctuations are possible but the situation will stabilize shortly after. The impact will be minimal," he said.

Apart from that, he said he sees no possible impacts of the presidential elections in the United States on Russia’s monetary and credit policy in the long-term perspective.

"The change of power will take place in any case and the Federal Reserve System may break the pause to make some steps. We can make guesses on that matter but it will be a minor impact anyway," Ulyukayev said, adding that Russia’s and US’ trade ministries maintain practically no contacts.

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