The head of Sberbank, Russia tied the ruble to the situation in Ukraine

Глава Сбербанка РФ связал курс рубля с ситуацией в Украине

The ruble may strengthen in case of normalization of the situation in Ukraine, Gref believes.

The head of Sberbank of Russia German Gref said that the ruble may strengthen if it will decrease geopolitical tensions and normalize the situation in Ukraine, RBC reports.

“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,” – said Gref in an interview with Russia 24.

As for oil prices, he refused to make predictions, noting that his Bank uses Analytics “one of the most reputable agencies in this area, which predicts that by 2020, the barrel will rise in price to 60 dollars, and by 2024 – up to 80.

Gref also noted that in forecasting oil prices and the ruble exchange rate another important factor is the economic situation in China.

Earlier, Gref said that Russia was in the list of the countries downshifters, failing to adapt the economy to the new reality.

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