..what are the Central Bank and the Government actually doing? First, as you may know, they raised the key interest rate. I hope the rate will remain for the duration of these complicated developments connected with the foreign economic situation, and the economy will adjust one way or another.

What is the basis for my optimism? The idea that the economy is bound to adjust to life and work in conditions of low prices on energy resources. This will become a fact of life.

How soon will the economy adapt if the prices remain at the current level or even go below 60 [USD/barrel], 40, or whatever? For us it could be any figure, the economy would simply have to get structured. How fast will this happen? This is hard to say. But it is inevitable. I would like to highlight this. This will be a fact of life.

What is the Central Bank doing? They have raised the key interest rate. What else do they need to do? And what are they already doing? To stabilise the national currency they need to somewhat limit ruble liquidity and give economic entities access to foreign currency liquidity. This is exactly what the Bank is doing. Their foreign currency interest rate is quite low – 0.5.

Overall, I think it is up to the Central Bank to decide whether to reduce the interest rate or not, they should see and react accordingly. They should not hand out our gold and foreign currency reserves or burn them on the market, but provide lending resources.