“As good as it gets. You need to understand that structural overproduction for a long time, can see the price of oil and 18 dollars is not going to die, and can see the rate in 100 roubles – also will not die. You need to move, knowing that it will be,” said Deripaska, speaking at the Krasnoyarsk economic forum (quoted by TASS).
Speaking about the reasons for the plight of the Russian economy, the businessman called the “main problem” its strong dependence on external factors. He also pointed to the negative impact of corruption, the lack of high quality domestic debt market and the ongoing Central Bank monetary policy.
Earlier Deripaska criticized the Central Bank’s actions, calling rates set by the “stop” and preventing “perfect” losses from the devaluation. In January 2016 at the world economic forum in Davos, Deripaska said that the economic policy of Russia is to “do nothing”.
President of “RUSAL” noted that 2016 is “last year, when the state will be able to support the manufacturer”, and then manufacturers will have to support the state, since “money in the budget 2017 no”.
In early February of 2016 sharp drop in oil prices did not exclude the head of “Rosneft” Igor Sechin. According to him, due to the financial speculators who “do not know restrictions in their purely financial problems”, oil prices could fall to $10 per barrel.
Earlier Russian energy Minister Alexander Novak in an interview said that the probability of a price decrease to $10 small. “We are not considering such options. But I say again that a shortterm bottom might be any”, he said, predicting that the critical situation for the Russian budget comes with an average annual price of oil at $5-15 per barrel, which is an estimate of the cost of oil production the major players in the Russian market.
According to analysts VTB Capital, already falling oil prices to $20 per barrel, the dollar may rise to 96.3 RUB.
During today’s trading on the stock exchange ICE cost of a barrel of Brent fell to $33,77, which is 1.5% below the closing level yesterday. The dollar on the Moscow stock exchange this morning, hovering around 76,5 RUB.