Support The Moscow Times!

Gref Unworried by Protests

Russia isn't in danger of a revolution from demonstrations against alleged fraud in parliamentary elections last month and the government is "on the right track" in responding to them, Sberbank chief executive German Gref said.

"This is no Arab Spring," Gref, a former economy minister, said late last week. "We can't even think about it."

Demands from opposition politicians and former Finance Minister Alexei Kudrin for new elections aren't "rational," Gref said.

Unlike Europe, Russia hasn't reached the limit of its consumption and can help stoke demand as developed economies struggle. Even as the euro region grapples with a sovereign debt crisis, there's "nothing dangerous" for the ruble, Gref said.

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.