The former Russian finance minister Alexei Kudrin said in Davos that the peak of the crisis in Russia is still ahead.
"The year 2016 carries risks. Neither presidential aides nor I expected this kind of oil price collapse, and this has created a new reality. That’s why the peak of the crisis is still ahead," Gazeta.ru cited him as saying.
![November 2025 in photos: New Year at GUM, the "City of Living Stories," and autumn scenes](https://en.vestikavkaza.ru/upload2/s400xfull/2025-12-02/1764706769692f49d1538777.83780174.webp "November 2025 in photos: New Year at GUM, the "City of Living Stories," and autumn scenes")
