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. Last Updated: 07/27/2016

Gref Unworried by Protests

Russia isn't in danger of a revolution from demonstrations against alleged fraud in parliamentary elections last month and the government is "on the right track" in responding to them, Sberbank chief executive German Gref said.

"This is no Arab Spring," Gref, a former economy minister, said late last week. "We can't even think about it."

Demands from opposition politicians and former Finance Minister Alexei Kudrin for new elections aren't "rational," Gref said.

Unlike Europe, Russia hasn't reached the limit of its consumption and can help stoke demand as developed economies struggle. Even as the euro region grapples with a sovereign debt crisis, there's "nothing dangerous" for the ruble, Gref said.