23 Apr 2018 12:23

Ruble will not manage to return to previous rate - Kudrin

MOSCOW. April 23 (Interfax) - The ruble exchange rate will not return to its level before the introduction of Western sanctions against Russia: foreign investors have already given their assessment of risks and will not change it in a hurry, ex-Finance Minister and the head of the Center for Strategic Research Alexei Kudrin said.

Asked whether the ruble will return to its pre-sanctions level Kudrin said: "we are currently seeing that the process is underway, it is sluggish, but it is currently linked to the maintenance of sanctions. And once this reassessment has happened, a return in the coming days, two-three months to the previous positions is unlikely," he said in an interview on the TV show Pozdnyakov, which will be aired on Monday evening.

Kudrin said that the reason for the current situation with the ruble is that "western funds have reassessed the political risks regarding investment in Russia."

"This reassessment, the reduction of these limits, this is fundamental, it is an important indicator, so the ruble hasn't recovered completely," Kudrin said.