Russia may run out of money in 2024, says oligarch

London CNN — Russia could find itself with no money as soon as next year and needs foreign investment, outspoken Russian oligarch Oleg Deripaska has said.

“There will be no money already next year, we need foreign investors,” he said at an economic conference in Siberia Thursday, according to comments reported by TASS, a Russian state-owned news agency.

The remarks from the billionaire — who called for an end to Moscow’s war in Ukraine in the early days of the conflict last year — contrast with a more upbeat assessment of Russia’s economic fortunes by President Vladimir Putin last week. Putin praised the resilience of the country’s economy in the face of unprecedented Western sanctions imposed in the past year.

Russia’s economic output shrank 2.1% last year, according to a preliminary estimate from the government. The contraction was more limited than many economists initially predicted.

Approved ~ FS


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