Is the Ukraine war bankrupting Russia? The Russian elite is alarmed – and now even openly admits it. The oligarch Oleg Deripaska is convinced that “next year there will be no more money available”.
On Thursday at the Krasnoyarsk Economic Forum in Siberia he warned of the collapse of the Russian economy. “Financial resources are becoming increasingly scarce, which is why many other countries have already started to depend on us.”
In addition, the financial situation is aggravated by war spending. Russia put the military budget for 2023 at $84 billion earlier this year. Originally, more than 40 percent less would have been planned.
Oleg Deripaska is also feeling the effects of the sanctions personally: the 55-year-old confidant of Kremlin chief Vladimir Putin was also subject to penalties in the West. He is considered one of the richest Russians ever.
According to Kiev, the aluminum multi-billionaire managed companies through a network of companies and business structures in various regions of Ukraine. He tried to hide his ownership.
According to the Ukrainian secret service, they discovered that Deripaska owned or partially owned several companies. More than 300 objects were also confiscated, including real estate that would now be transferred to state assets.
The total value of the assets transferred to state ownership is ten billion hryvnia (around CHF 250 million). This was announced by the secret service. Deripaska has been criticized for making money directly from the war in Ukraine through his commodity deals and proximity to the Kremlin.
The oligarch has also attracted attention in the past with statements critical of the Kremlin. He spoke out in favor of peace negotiations between Russia and Ukraine.
He also publicly questioned the Kremlin’s depictions of the war. For example, he doesn’t believe the report from Russia that the Bucha massacre was only staged.
