March 31, 2023

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Russian Oligarchs Warn That His Country May Collapse By 2024 – New York Daily News

Brother, can you spare a ruble?

Oligarch Oleg Deripaska told attendees of an economic summit in Siberia that Russia could run out of money by 2024.

“There will already be No money next yearHe said, according to the Moscow Times. “We will need foreign investors.”

The 55-year-old billionaire has close ties to Russian leader Vladimir Putin, who has ordered troops into Ukraine in 2022 to fight a war that has become unexpectedly complex. Deripaska criticized this invasion, which prompted many countries, including the United States, to punish Russia.

In Siberia, he said, Russia cannot expect to become part of the international community again if the government continues its “barbaric stone age practice of imprisoning everyone else for nothing”.

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Among the activities that lead to people being arrested in Russia are protests against the war. The United Nations expressed concern in 2022 about “credible reports” Thousands of demonstrators They are imprisoned.

Deripaska’s investments include an aluminum company that was once the world’s largest. His fortune has taken a “big hit from Western sanctions,” according to The Moscow Times. Forbes puts its value a little less $3 billion. Deripaska is said to have been at one point the richest man in Russia and one of the ten richest people in the world.

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He complained of “state capitalism” and called for “more freedom” during his speech in Siberia.

It is rare for Deripaska to criticize Putin, though he has described the destruction of Ukraine.mistake. “

Many US companies have stopped doing business with Russia including McDonald’s, which closed 850 stores there after the war broke out in Ukraine. New York State said in February 2022 that it would no longer do business with companies headquartered in or operating from Russia.

The Carnegie Endowment for International Peace said last December that Russia’s economy is faltering better than expected, but is facing “decade of decline“Starting with development going in the opposite direction over the next three to five years.

That report stated that “amid uncertainty, investment is at risk of being cut off” and that private investors were already turning away from Russia’s “unfavorable business climate”.