Brexit Could Derail Russian Rebound, Hammer Stocks, Gref Says
- Sberbank bracing for stock, ruble volatility after referendum
- Gref’s warning on Brexit risk starkest yet by Russian figure
Sberbank Warns Brexit Could Impact Russian GDP By 1%
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A British exit from the EU could derail Russia’s recovery from the longest recession in two decades and pummel its currency and stock markets, the head of the country’s largest bank said.
A ”leave” victory in next week’s historic U.K. referendum would have knock-on effects across the 28-nation bloc and shave about 1 percent off gross domestic product, Sberbank PJSC Chief Executive Officer Herman Gref told Bloomberg TV at Vladimir Putin’s annual investor forum in St. Petersburg.