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Russia: Greek crisis could hit Russian economy - EconDevMin. Ulyukayev
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07.07.2015
The direct influence of the Greek crisis on the Russian economy is expected to remain small due to limited Russian exposure to the Greek economy, but the indirect effects could become increasingly visible, Russian Minister of Economic Development Alexei Ulyukayev said in Moscow, Tuesday. "In terms of indirect influence, it could be sensitive because [of] the situation of instability on the financial markets being caused by the rumours about the so-called 'Grexit,'" Ulyukayev said. Speaking before the official BRICS summit in Ufa, Ulyukaev added that the crisis could also put downward pressure on the rouble, but that the effects would likely be short-term. The ministers of Economy and Foreign Trade of Brazil, Russia, India, China and South Africa gathered in the Russian capital, Tuesday to discuss economic partnership within the BRICS framework and initiatives in the field of trade and investment, as well as cooperation in the framework of the WTO and G20. The BRICS account for 42 percent of the world population and over 30 percent of global GDP, in addition to about 45 percent of global agricultural output.
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