The head of the Bank of Russia Elvira Nabiullina said that the fall in oil prices to 25 dollars per barrel will not be for the Russian catastrophe, writes Forbes.
“We do a stress scenario at a price of $ 25 per barrel. This is an unlikely scenario, but even that is not disastrous for Russia, although it may lead to the weakening of the ruble. This will mean that we will continue to pursue tight monetary policy with high interest rates, which not all like,” she said.
However, Nabiullina said that, most likely, oil prices in the next two years will fluctuate in the range of $ 40-50 per barrel.
“The ruble is largely dependent on oil. In 2014 and 2015, oil prices fell. Almost all of 2016, oil prices have risen, but steady trends there,” — said the head of the Central Bank.