Russia could run out of money in 2024.
Oleg Deripaska has a bleak view on the Russian economy
Oligarch Oleg Deripaska fears that the Roubles could run dry unless Moscow secures investment from "friendly " countries as western sanctions take their toll.
Deripaska, who was once the richest person in Russia, told an investment conference in Siberia on Thursday (02.03.23): "There will be no money already next year. We will need foreign investors."
The energy and metals tycoon has been hit by sanctions and suggested that Russia may have to look east for financial support as the West punishes the nation for the war in Ukraine.
Deripaska said: "We thought we were a European country. Now, for the next 25 years, we will think more about our Asian past."
The businessman has complained that the Russian government had started to "shake down" businesses to make up for a shortfall in the budget.
Russia has recorded its biggest budget deficit for the month of January since Putin came to power in 2000 and the tyrant recently said that he wanted big Russian businesses to make voluntary payments into the national finances.
However, Deripaska has called for the number of government officials and members of the state security services to be slashed to save cash.
He said: "We need more freedom and competition."