Ulyukayev: low oil prices may continue for decades

Ulyukayev: low oil prices may continue for decades

The period of low oil prices may last for decades, Russian Minister of Economic Development, Alexey Ulyukayev, said at the Gaidar Forum.

Russia has entered the period of limitation for economic growth and former drivers of the economy will cease to exist in the foreseeable future, he said.

In his speech, he also noted that he considered it necessary to revisit the issue of privatization of the largest Russian banks, VTB and Sberbank. According to the minister,  these are "very high-quality assets that are attractive throughout the world."

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