RIA Novosti cited Mr Arkady Dvorkovich presidential economic aided as saying that Russia has not yet seen the peak of the global financial crisis although the most acute period has passed.

Mr Arkady Dvorkovich said "I agree with the assessment made by Mr Ulyukaev that the worst of the crisis is over, but it does not mean that we have reached the bottom. He also said that the restructuring of debt held by Russian banks and companies could be completed by the middle of summer or towards the coming fall.”

Mr Dvorkovich said "Nothing is preventing the final process of restructuring process finally from being completed towards the middle of summer, but the fall is a more realistic time, adding that this would be an indication that the crisis had hit its peak.”

(Sourced from RIA Novosti)