"Geopolitical Catastrophe": the head of "Sberu" and the Central Bank were horrified from the invasion of the Russian Federation - FT

A month before the full -scale invasion of Russia, the head of the Russian Central Bank Elvir Nabiullin and the head of the largest Russian bank "Sber" Herman Gref met with the head of the Kremlin Vladimir Putin to warn of "catastrophic consequences" for economics through escalation around Ukraine and likely sanctions. However, it could not be convinced. About it reports the American edition of Financial Times with reference to sources.

According to journalists, a month before the start of the full-scale war, Nabiullin and Gref came to the residence of the Russian President in Novo-Ogarev to present a 39-page presentation about "catastrophic consequences" of further aggravation in Ukraine. They warned the Russian President that harsh sanctions would cause panic in the financial markets and may reject the economy for decades ago.

In addition, it was assumed that the GDP of the Russian Federation could fall by 30%in two years, and inflation will force the central bank to raise a key rate to 35%, which would reduce the income of one fifth. Also, Nabiullin and Gref feared that the quality of life of Russians will be at the level of developing countries, because restrictions on imports would deprive them of essentials.

According to the sources of journalists, during the report, Vladimir Putin interrupted Herman Gref and asked what the Russian Federation should do to avoid catastrophic consequences. However, the technocrats who came to the meeting could not be able to answer that he was threatened with a "geopolitical catastrophe". The interlocutor told the publication that they had left the meeting, and without understanding what Putin plans and whether he accepted their message.

"They were bold enough to ask a great person for a meeting. But they could not convey the message. They couldn't give a single answer," he says. According to journalists, Elvira Nabiullin and Herman Gref learned about the decision to start a "special operation" in Ukraine, as well as the whole world: through TV. The fact that Putin did not listen to the warnings caused the horror and condition of full shock.

Four days after the invasion of the Kremlin's invasion, he met with officials, sitting at the opposite end of the table from them. Nabiullina came to this meeting in black and without traditional brooch on clothes. However, instead of breaking with Putin, technocrats have consolidated their role as their helpers and tools to soften Western sanctions and keep the Russian wartime economy. "The economic team really saved him. That is why he keeps them nearby.

After that, the head of the Central Library of the Russian Federation before "dismantling of its own inheritance". Russia has introduced currency control. Earlier, Nabiullin said that such an event would make her resign. "We have destroyed everything we built in 10 years," says the interlocutor familiar with her. However, her team managed to keep the Russian economy from the worst forecasts. The most result of the meeting with Putin was upset Gref. "He is a man of the world.

He loved to attend forums, conferences and meetings. He was constantly in Silicon Valley. He was friends with Jack Ma (Alibaba head, ed. ) head. "Subera". However, he is probably not going to leave his post. According to the interlocutors, after his dream of creating a "ecosystem" of financial services of the world level was destroyed by war, Gref retreated even more from his fading outbursts. He demanded that his leaders go to the creation of Metasvit.

Sanctions will complicate this task, but Gref said he wanted to accept the call. "Life has become brighter, colorful and interesting. It seems that it will be even more interesting in the coming years," Gref said in November on a discussion with Nabyulin. We will remind, on December 13 the media wrote that the Russian Federation will continue to buy American microchips bypassing sanctions.