Sberbank head German Gref urges Putin to end Ukraine war
Business
German Gref, head of Russia's biggest bank Sberbank, is openly calling on President Putin to stop the Ukraine war.
In a recent interview, he warned that the ongoing conflict is dragging down Russia's economy, pointing out falling wages and job cuts as clear signs.
Gref also called the government's use of monetary policy to combat inflation "completely irrational," saying they're making things worse for everyday people.
Russia: rates, investment, fuel shortages
Russia's central bank hiked interest rates to 21% in 2024 and only brought them down to 14.25% this June.
Investments have already fallen by over 14% and could fall another 3%.
Meanwhile, Ukrainian drone strikes on oil refineries are causing fuel shortages. Crimea even had to halt civilian fuel sales after recent attacks.