Depreciation of the ruble is of no use to Russia, said the broker
In his words, Putin’s statement in favour of the concessions canceled by Gazprom on natural gas supplies to Ukraine are more acceptable than those of other government officials in the country, who warned of a possible withdrawal from the dollar as a reserve currency and termination of credit payments to US banks. Such a warning was given by Kremlin’s adviser Sergey Glazev as a response to sanctions from the West to Russia.
In Bandilov’s words, the big loser in financial terms of such decisions would be Moscow. He stressed that the markets reflect what is happening in Crimea with the corresponding volatility and stabilisation in specific speeches or events.
The expert stressed that Russia has no benefit from devaluation of the ruble. In this sense, it is also forecast that a solution to the conflict in Crimea will soon be found.
“Russia does not have the financial back to maintain such a military force for such a conflict,” said Bandilov. At the same time, he referred to Warren Buffett’s words that the Crimean crisis gives a good opportunity to buy shares.
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