Sberbank sets forecast for end of Middle East conflict at later date, improves exchange rate forecast to 80-85 rubles/$1

ST. PETERSBURG. June 4 (Interfax) - Sberbank has shifted its expectations for the end of the Middle East conflict to the right and has thus raised its oil price forecast as well as improving the exchange rate forecast, Sberbank CFO Taras Skvortsov said.

"We have now reviewed the most probably date for the end of the political crisis between the U.S. and Iran, shifting it from June to September-October, and have therefore raised the forecast for the oil price, and along with that, of course, the ruble exchange rate. Our target in this baseline scenario is now between 80 and 85 rubles per dollar at the end of the year," Skvortsov told journalists at the St. Petersburg International Economic Forum (SPIEF 2026).

"If we assume a scenario in which the conflict is resolved immediately, in June for example, the ruble exchange rate will be weaker, in the range of 85-90 rubles. We have these two scenarios on the table," he said.