Russian oligarch Deripaska warns Russia will ‘have no money’ in 2024

2 March, 07:18 PM
Олег Дерипаска (Photo:REUTERS/Maxim Shemetov)

Олег Дерипаска (Photo:REUTERS/Maxim Shemetov)

Russia will have “no money” in 2024 because of the current economic policy, Russian oligarch Oleg Deripaska said at the Krasnoyarsk Economic Forum on March 2, adding that "State capitalism is a blind alley.”

“I am horrified to see the resources that have been wasted over the past year,” Deripaska said.

“I used to think it was billions, but now I see that the bill is already in the trillions. Only a market-based economy, only issues regulated by a competitive environment (can help the country).”

Deripaska said that Russia needs foreign investment and must ensure the attractiveness of its markets.

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"The country is already having serious problems with money, so they started shaking up the business like a leaf," he said.

Earlier, NV reported that U.S. President Joe Biden signed a decree imposing a 200% duty on aluminum imports from Russia. Russia's main aluminum exporter is RusAl, founded by Deripaska.

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