Gref predicted a “significant” strengthening of the ruble with the stabilization in Ukraine

The ruble may strengthen if it will decrease geopolitical tensions, said the head of Sberbank German Gref in an interview with TV channel “Russia 24”. “The ruble inherent geopolitical tensions. If it is to resolve the situation with Ukraine, then I think we will see a significant strengthening of the ruble,” — he said (quoted by “Interfax”).

Gref noted that it is not taken to predict the price of oil. According to him, the Bank uses Analytics “one of the most reputable agencies in this area, which predicts that by 2020, the barrel will rise to $60 by 2024 — up to $80. “On while no one is considered”, — he added. An important factor in forecasting oil prices and the ruble exchange rate is the economic situation in China, said Gref.

In March, German Gref called “comfortable” with the dollar around 60 RUB: “If the rate was at around 60 rubles/$, this would be a more comfortable level for all companies, the budget, all the players on the Russian market”. According to him, a weak ruble is good for Russian exports, but interferes with the procurement abroad needed for modernization. “For Russian exports, the current situation is very good. But if we talk about modernization, we should talk about investment, that automatically means we have a lot of equipment to buy abroad. A stronger currency will not help us here”, — said the head of Sberbank.

About reducing geopolitical tensions last week said ex-Finance Minister Alexei Kudrin. Later, the newspaper “Vedomosti” wrote that at the meeting of the Presidium of the economic Council under the chairmanship of President Vladimir Putin Kudrin said that Russia lags behind in technology and needs to be integrated into international production chain. For this, according to him, it is necessary to reduce geopolitical tensions. Putin, in turn, in the concluding speech at the meeting recalled thousands of years of history and declared that the country will not trade sovereignty, let her somewhat behind. The newspaper’s sources said that he was in the same speech promised to protect the sovereignty of Russia until the end of his life.

Another source said that Putin’s conciliatory added a phrase stating that it is not necessary to increase the tension and to succumb to provocations. However, he expressed confidence that the country will not take foreign business, which is profitable to work in Russia. Officially in the Kremlin did not comment on the details of the final speech of Putin, pointing out that it was a non-public part of the meeting. The representative Kudrin also declined to comment on the discussion.