“Market hysteria will ease, difficulties remain”

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Andrei Klepach Reuters. Deputy Economy Minister Andrei Klepach.

Moscow - “Hysteria” on Russian markets will subside because of Central Bank interventions to support the rouble, but Russia faces a period of strained ties with the European Union and the United States which will weigh on the economy, a senior official said.

Deputy Economy Minister Andrei Klepach told Reuters on Monday that capital flight would continue, increasing pressure on the rouble.

“The wave of hysteria will pass, but it is difficult to say when,” Klepach said.

“Anyway, what lies ahead of us is a period of more confrontation and difficulties. For us, that will mean more complicated relations with the European Union, the States, with all the resulting consequences.” - Reuters


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