Tycoon Deripaska Warns Russia May Run Out of Money in 2024

March 04, 2023

(Bloomberg) -- Billionaire Oleg Deripaska said Russia could find its coffers empty already next year and needs investment from “friendly” countries to break the hold of sanctions on the economy. Most Read from Bloomberg“There will be no money already next year,” Deripaska said Thursday at the Krasnoyarsk Economic Forum in Siberia. What Bloomberg Economics says....“Borrowing is expensive now and the money saved up in the National Wellbeing Fund will run out by the end of 2024. Story continuesSpeaking on Thursday, Deripaska said building “state capitalism is not an option” and warned of “serious” pressure from sanctions. “A foreign investor will look at how a Russian investor makes money, what conditions exist.”Countries boasting “serious resources” can emerge as possible partners for Russia, Deripaska said.