“Russia will ride out the crisis”

The chief strategist of the Russian private bank Uralsib, Chris Weafer, claims that Russia will overcome the crisis thanks to a combination of income, reserves, and stabilising measures. Despite a low price, Russia still earns more than 600 million US dollars through oil and gas exports, he calculated.

Russia has the resources to ride out the crisis, Mr Weafer believes. Russia is “fortunate” that its economy had not become more globally integrated beyond commodities, he says. Debt levels in Russia, although high, are manageable with existing resources. Internal stability is not a risk, the Uralsib report, “Growth Interrupted,” says.


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