Wednesday, January 14, 2015

Russia loses $ 50 billion! – Interia

Russia loses $ 50 billion! – Interia

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Anton Siłuanow, Minister of Finance of Russia / AFP

On the other hand, the president of Sberbank, the largest retail bank in Russia, German Grief warned that the average price of oil at the current level, or about $ 45, will threaten the Russian Federation” full-size “the banking crisis.

It is obvious that the banking crisis will be a full-size. How many banks can withstand the creation of such provisions as may be necessary at an average annual price at the present level, ie 43-45 dollars? – Grief asked. According to him, the banks will probably have to create an additional provision in the amount of 3 trillion rubles.

The previous long-term Russian Finance Minister Alexei Kudrin expressed the view that the situation in the Russian financial market may stabilize at the end of the first quarter, when oil prices slightly increase. According to former finance minister, now in Russia is in the process of adaptation to new economic conditions and the identification of new landmarks for further investment.

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As announced in Russian news agency RIA Saturday-Novosti, citing an unnamed government source.

It is “highly probable” that Russia will apply for early repayment of Ukraine’s debt in the amount of $ 3 billion. This informant said that Ukraine violated “a whole series of” conditions under which the loan was granted by Russia.

As part of a larger intervention Moscow for previous Ukrainian authorities Ukrainian Eurobonds Russia acquired in December 2013 – before the overthrow and escape the previous President Viktor Yanukovych in February 2014 year. Among the fortifications were, among others, a requirement that the debt of Ukraine did not exceed 60 percent. GDP, and this condition was probably broken – Measure in an interview with Reuters in September 2014, the Russian Finance Minister Anton Siłuanow.

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Source of information:  PAP

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