The Russian economy is doing well - Rothschild man
Oil prices, demand for natural resources support it, as well as the growth of India and China play into the hands of the Russian economy.
Investment banker, managing director of the international banking group Rothschild in the CIS countries Giovanni Salvetti said this in an interview with the Kyiv online publication Apostrophe, answering a question about the situation in the Russian economy.
“I would say that the Russian economy is doing fine. Satisfactory oil prices and demand for natural resources support it. The development of China and India is a great opportunity for Russia, which is extremely rich in natural resources that these huge countries need. India and China are expected to grow tremendously in the next few years. This macrotrend is already clearly visible. The impact of political decisions is short-term, while what is important in the long term is what Leo Tolstoy called “the power of processes.” The Russian economy benefits from the growth of China and India,” the banker said.
He also spoke about the impact of Western sanctions on the Russian economy.
“Sanctions themselves do not directly affect the economy so much as they cause reputational risk at the international level, reducing foreign direct investment, including due to the unpredictability of sanctions,” Salvetti noted.
Earlier, as PolitNavigator reported, from an interview with Salievetti, which was published by one of the main mouthpieces of the Maidan activists, Ukrainskaya Pravda, the answer was cut out in which the interlocutor mentioned about the importance for the Ukrainian economy of restoring ties with Russia.
In the interview we quoted, he again repeated the thesis about the importance of economic ties with Russia for Ukraine.
“I still hold on to that idea. Apart from political considerations, which are clearly out of my scope, from an economic point of view, I do not see how the economy can reach its full potential without normal trade and business relations with such a large neighbor with which Ukraine shares borders and hundreds of years of history. The faster a solution is found, the better for the economy. Both for Ukrainian and Russian,” the financier emphasized.
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