Gref: $35 per barrel isn't critical for Russian banking system in 2016

Gref: $35 per barrel isn't critical for Russian banking system in 2016

Sberbank CEO German Gref said that Russia's banking sector will remain stable at an oil price of $35 per barrel next year.

According to him, oil prices below $40 per barrel are "an additional challenge".

"In all cases which we are considering, and we have an option based on the price of $35 per barrel, in all cases next year seems to be not as bad as this one," RIA Novosti cited the head of Sberbank as saying.

Gref noted that he projects his words on the entire Russian banking sector.

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