Moscow Might Run Out Of Money By Next Year, Says Russian Oligarch

Russian oligarch Oleg Deripaska said the money could run out as early as next year if Russia doesn’t secure investment from “friendly” countries.

“We already have no money next year, we need foreign investors,” Deripaska said at an economic conference in Siberia on Thursday. CNN report.The billionaire who called for an end to the war in Ukraine in Moscow early in the conflict last year continued to say funds were running low, saying, “That’s why they [the Russian government] It’s already starting to shake us up. ”

Deripaska said Russia was suffering from “severe” pressure from Western sanctions, requiring the country and its companies to invest in other countries with “serious resources”. I thought it was a country of the world,” Deripaska said. Guardian“Over the next 25 years, we will think more about Asia’s past,” he added.

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Notably, Deripaska’s remarks came after Russian President Vladimir Putin praised the resilience of the Russian economy in the face of unprecedented Russian sanctions imposed the previous year. , Russia’s economic output contracted by only 2.1% last year. The contraction was more limited than many economists had originally predicted.

according to CNNSince Russia invaded Ukraine in February 2022, Western countries have imposed more than 11,300 sanctions and frozen about $300 billion of Russia’s foreign exchange reserves in an attempt to deplete the country’s resources for aggression. Did. But China threw the Kremlin an economic lifeline by buying Russian energy, replacing Western suppliers of machinery and base metals with other products, and providing an alternative to the US dollar.

Still, there is still a long way to go to regain export funds and other sources of income lost to sanctions.