Sberbank Gref Seeks More Liquidity: Russia Overnight

OAO Sberbank Chief Executive Officer Herman Gref urged Russia’s central bank to ease a cash shortage that he said is forcing lenders to raise rates.

“Even we feel it,” Gref, who led the Economy Ministry for seven years before leaving to head Russia’s largest bank in 2007, said in an interview at the World Economic Forum in Davos, Switzerland yesterday. “There is a fight for liquidity. What to do? Quickly introduce new instruments, as it’s not a short-term problem.”