Russia this will be a challenge and it will deal a blow to the Russian economy which will suffer from the embargo of the freezing of the economic cooperation with Turkey. And of course the Turkish economy will also suffer a lot," said Igor Nikolayev, Director of Institute for Strategic Analysis FBK.
Date: Nov 28, 2015
Category: World
Source: Google
Russia attacks 'politically motivated' downgrade to junk rating
"There could be some political component in the decision, but... one must recognise that the situation is taking a serious turn for the worse," said Igor Nikolayev, an analyst who heads the FBK Strategic Analysis Institute.
"Sanctions are undoubtedly a serious threat to the Russian economy. But Russia, with or without sanctions, would have experienced the crisis it is going through today," said Igor Nikolayev, head of the FBK Strategic Analysis Institute.
The factors that led the ruble to plummet -- the Ukraine crisis and low oil prices -- "are still in place, which means that the ruble will continue to fall", said Igor Nikolayev, head of the FBK Strategic Analysis Institute, quoted by RBK business news website.