The Economy of the Russian Federation Will Not Collapse: Hetmancev Explained Under What Conditions This Will Happen.

The head of the financial committee of the Verkhovna Rada, Danilo Hetmancev, believes that an economic collapse in Russia is not expected in the coming year. He explained that for this to happen, the price of oil must stay below 40 dollars for a year and a half.

He said this in an interview with Novyny.LIVE.

Are There Preconditions for the Collapse of the Russian Economy and What Can Influence This?

Hetmancev emphasized that at this moment there are no prerequisites for an economic collapse in Russia. On the contrary, thanks to income from energy resources and significant reserves, the Russian economy has successfully adapted during the conflict.

'The economy of Russia is currently focused on defense and is funded by significant revenues from energy resources. The country has about 700 billion dollars in gold and foreign exchange reserves, which is a considerable amount.' — he explained.

However, for there to be real consequences for the Russian economy, the price of oil must be below 40 dollars for an extended period.

'For the economic pressure on Russia to be noticeable, the price of oil must remain below 40 dollars for at least a year and a half. Only after that can we talk about a collapse or serious consequences in the future.' — emphasized the head of the financial committee of the Verkhovna Rada of Ukraine.

In the same interview, Hetmancev also noted that Ukraine is moving closer to peace thanks to the peace process, but difficult compromises lie ahead. US diplomats point to a shift in Putin's position regarding negotiations in light of possible new sanctions from Washington.

The Ukrainian deputy claims that Russia has sufficient reserves for economic stability, but an extended period of falling oil prices could become critical for its economy.