Moscow will run out of money by…: Russian oligarch Deripaska amid Ukraine war
1 year, 9 months ago

Moscow will run out of money by…: Russian oligarch Deripaska amid Ukraine war

Hindustan Times  

Russian billionaire Oleg Deripaska said Moscow is running out of money amid Vladimir Putin's Ukraine invasion and is likely to have no financial stability by 2024. If Russia receives investment from “friendly” countries, the impact of Western sanctions amid Ukraine war could be reduced, the oligarch added. Oleg Deripaska said that funds have been running low and “that’s why they’ve already begun to shake us down”, Bloomberg reported. “Sanctions and the war are constraining Russia’s fiscal flexibility … due to lower energy export revenues, higher war-related spending and a steady decline in GDP,” Scope stated, as per news agency Reuters.

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History of this topic

'Gloomy' Russian oligarchs think country is in trouble even with Trump win
1 month, 1 week ago

'Gloomy' Russian oligarchs think country is in trouble even with Trump win

Raw Story  

The Russian government has long held that Donald Trump is to their benefit, as it went so far as to interfere on his behalf in the 2016 election, and then enjoyed years of relative friendliness as Vladimir Putin and Trump were together on the world stage. According to Bloomberg News, the Russian billionaires colloquially known as "oligarchs" do not expect …

Meet Russia's richest billionaire who toppled a fertiliser tycoon on Forbes list
8 months, 3 weeks ago

Meet Russia's richest billionaire who toppled a fertiliser tycoon on Forbes list

Hindustan Times  

Russian industraliast Vagit Alekperov has become the richest billionaire in the country, according to the recently-released Forbes Billionaires List 2024. Russia's richest people added $72 billion to their fortunes over the past year, taking their collective wealth to $577 billion, Forbes said on Tuesday. In 2021, before Russia's invasion of Ukraine, Forbes had estimated the total wealth of Russian billionaires …

The West has sanctioned Russia’s rich. But is that really punishing Putin and helping Ukraine?
1 year ago

The West has sanctioned Russia’s rich. But is that really punishing Putin and helping Ukraine?

Associated Press  

VERONA, Italy — Sitting on a terrace in Verona as the bells toll at a nearby medieval church, Igor Makarov sips coffee as he describes his life as a billionaire under Western sanctions. While sanctions have made life difficult for the tycoons, “it’s not in the short term benefiting Ukraine,” said Nigel Gould-Davies, a former British ambassador to Belarus and …

Russian billionaires see wealth rise to three-quarters of a trillion dollars in past year
1 year, 8 months ago

Russian billionaires see wealth rise to three-quarters of a trillion dollars in past year

ABC  

Russia's richest people added $227 billion to their wealth over the past year, buoyed by high prices for natural resources and rebounding from the huge loss of fortunes they experienced just after the Ukraine war began. Key points: Russia has 110 official billionaires, according to Forbes's Russian edition Many of the names on the list are those in charge of …

'War's turning point soon': Russia to run out of ammunitions by end of spring, claims Ukraine intel chief
1 year, 9 months ago

'War's turning point soon': Russia to run out of ammunitions by end of spring, claims Ukraine intel chief

India TV News  

Russia-Ukraine war: The Russian forces are wasting huge amounts of human resources, armaments, and materials in the ongoing war against Ukraine but they will soon run out of ammo "very soon", claimed Ukrainian military intelligence chief Kyrylo Budanov. Russia may run out of money by next year' Earlier last week, a Russian oligarch made a big claim wherein he asserted …

Russia will run out of money next year, need 'friendly' nations to invest, says oligarch
1 year, 9 months ago

Russia will run out of money next year, need 'friendly' nations to invest, says oligarch

India Today  

Russia's treasury may run dry within a year, necessitating foreign investment, said outspoken Russian oligarch Oleg Deripaska at an economic conference in Siberia on Thursday. “There will be no money already next year, we need foreign investors,” he said in light of the Russia-Ukraine war, as per comments reported by TASS, a Russian state-owned news agency. Russia's economic output fell …

'Economic crisis awaiting.. Russia may run out of money by next year', claims outspoken Oligarch Deripaska
1 year, 9 months ago

'Economic crisis awaiting.. Russia may run out of money by next year', claims outspoken Oligarch Deripaska

India TV News  

Awaiting crisis: Amid the unprecedented crisis that erupted following the escalation of the brutal war against Ukraine, a Russian oligarch made a big claim wherein he asserted that Moscow would run out of money by 2024. According to outspoken Russian oligarch Oleg Deripaska, the country would plunge into further economic crisis, if it does not attract foreign investments. "There will …

Russian oligarch Oleg Deripaska warns Moscow likely to run out of money next year
1 year, 9 months ago

Russian oligarch Oleg Deripaska warns Moscow likely to run out of money next year

Firstpost  

New Delhi: Russian oligarch Oleg Deripaska has warned that Moscow may run out of money by 2024 as it struggles to replace western investors. He also went on to criticise Russian President Vladimir Putin, and said the government should “stop dreaming about some special place for Russia in the world and go about its own business.” Speaking at an investment …

Praise of ‘savvy’ Putin, attacks on aid and a 2024 campaign pillar: Why Trump’s comments on Ukraine matter
1 year, 10 months ago

Praise of ‘savvy’ Putin, attacks on aid and a 2024 campaign pillar: Why Trump’s comments on Ukraine matter

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. When the Russian invasion finally came, on 24 February 2022, Mr Trump was no …

Russian economy to decline by 2-2.5%: Putin after 6 months of war in Ukraine
2 years, 3 months ago

Russian economy to decline by 2-2.5%: Putin after 6 months of war in Ukraine

Live Mint  

Russian President Vladimir Putin said on Wednesday that Russia's economy will decline by 2-2.5 per cent, about six months after he declared a “special military operation” in Ukraine. Vladimir Putin said Russia's budget surplus would come in at 0.5 trillion roubles in 2022, and the GDP would fall by "around 2% or a little more." “I’m sure that we’ve lost …

Russia’s war at 6 months: A global economy in growing danger
2 years, 4 months ago

Russia’s war at 6 months: A global economy in growing danger

Associated Press  

MECKENHEIM, Germany — Martin Kopf needs natural gas to run his family’s company, Zinkpower GmbH, which rustproofs steel components in western Germany. Russia’s war led the International Monetary Fund last month to downgrade its outlook for the global economy for the fourth time in under a year. “The world may soon be teetering on the edge of a global recession, …

Russia-Ukraine latest updates: Putin warns of energy crisis
2 years, 5 months ago

Russia-Ukraine latest updates: Putin warns of energy crisis

Al Jazeera  

Russia-Ukraine news from July 8: Putin says sanctions could have catastrophic consequences” on the global energy market. 8 Jul 2022 - 19:07 GMT Sanctions ‘catastrophic’ for energy market: Putin Russian President Vladimir Putin has warned of possible “catastrophic consequences” of Western sanctions on the global energy market. “The result of your work, which we see, really makes us feel proud …

'Regime will end very soon': Jailed Oligarch explains why many Russians also want Putin to go
2 years, 8 months ago

'Regime will end very soon': Jailed Oligarch explains why many Russians also want Putin to go

Raw Story  

A Russian businessman imprisoned for a decade by Vladimir Putin believes the end is near for the former KGB operative's regime. Mikhail Khodorkovsky, who founded one of the nation's first commercial banks, spent 10 years in a Siberian prison after publicly criticizing Putin's business corruption, but he now lives in London after he was freed ahead of the Sochi Winter …

What will Russia’s post-invasion economy look like?
2 years, 8 months ago

What will Russia’s post-invasion economy look like?

Al Jazeera  

Russia’s market economy died exactly one month ago when the West imposed sanctions cutting off its central bank from capital markets and freezing hundreds of billions of dollars of its reserves in the process, in response to President Vladimir Putin’s unprovoked invasion of Ukraine. From autocratic market economy to autarkic command While Russia has been considered a market economy since …

Putin’s war to wipe out 15 years of progress for Russian economy
2 years, 9 months ago

Putin’s war to wipe out 15 years of progress for Russian economy

Al Jazeera  

Russia’s invasion of Ukraine last month spurred a collapse of the rouble and threw global supply chains and commodities prices into chaos. The economy is expected to contract 15% in 2022, followed by a decline of 3% in 2023, leaving gross domestic product where it was about fifteen years ago, economists Benjamin Hilgenstock and Elina Ribakova wrote in a preliminary …

Russia built an economy like a fortress but the pain is real
2 years, 9 months ago

Russia built an economy like a fortress but the pain is real

Associated Press  

Western sanctions are dealing a severe blow to Russia’s economy. Despite the punishing financial sanctions, Russia has built “an economy that’s geared for conflict,” said Richard Connolly, an expert on the Russian economy at the Royal United Services Institute in Britain. The Russian government’s extensive involvement in the economy and the money it is still making from oil and gas …

What’s awaiting Russia may be much worse than the chaos of 1990s
2 years, 9 months ago

What’s awaiting Russia may be much worse than the chaos of 1990s

Al Jazeera  

If Putin does not change course – and fast – Russia may find itself in an economic catastrophe akin to that of 1918. President Vladimir Putin has long justified his strongman rule through warnings that without his guiding hand, Russia would be destined to fall back into the chaos of the 1990s when Russians experienced a drastic decline in living …

How Russia’s invasion of Ukraine changed the global economy in a week
2 years, 9 months ago

How Russia’s invasion of Ukraine changed the global economy in a week

CNN  

London CNN Business — A week of war in Ukraine has rocked the global economy, as quick-fire Western sanctions isolated Russia, collapsed its currency and financial assets and sent energy and food prices soaring. Now, a barrage of sanctions have made Russia’s biggest banks radioactive, traders are shunning barrels of Urals crude oil, and Western companies are fleeing the country …

Russians start feeling the heat of Ukraine war sanctions
2 years, 9 months ago

Russians start feeling the heat of Ukraine war sanctions

Associated Press  

MOSCOW — In the days since the West imposed sanctions on Russia over its invasion of Ukraine, ordinary Russians are feeling the painful effects — from payment systems that won’t operate and problems withdrawing cash to not being able to purchase certain items. “Plus, in one supermarket they limited the amount of essential goods one person could buy.” Apple announced …

Russia-Ukraine war: Russian billionaires send stern message to Vladimir Putin
2 years, 9 months ago

Russia-Ukraine war: Russian billionaires send stern message to Vladimir Putin

India Today  

Russian billionaires Mikhail Fridman and Oleg Deripaska have called for an end to the ongoing Russia-Ukraine war triggered by President Vladimir Putin's assault on the neighbouring country. Biden administration officials said Germany, France, the UK, Italy, Japan, the European Union and others will join the US in targeting the Russian central bank, according to a report in the Associated Press. …

Russia-Ukraine: US, UK, EU, Canada sanction Russia’s central bank
2 years, 9 months ago

Russia-Ukraine: US, UK, EU, Canada sanction Russia’s central bank

Al Jazeera  

Measures aim to ‘disrupt Russia’s attempts to prop up its rapidly depreciating currency’, US Treasury says. “The unprecedented action we are taking today will significantly limit Russia’s ability to use assets to finance its destabilizing activities, and target the funds Putin and his inner circle depend on to enable his invasion of Ukraine,” Secretary of the Treasury Janet Yellen said …

Column: How Western sanctions may demolish Putin’s ‘Fortress Russia’
2 years, 9 months ago

Column: How Western sanctions may demolish Putin’s ‘Fortress Russia’

LA Times  

For years, Vladimir Putin worked assiduously to strengthen what was known as “Fortress Russia,” reducing its government debt and building up its reserves of gold and foreign currency as a bulwark against political and economic challenges. — Robert Person, U.S. Military Academy Russia holds roughly an additional $132 billion in gold domestically, but monetizing that hoard will be extremely difficult …

U.S. sanctions on Russian oligarchs miss richest of rich
2 years, 9 months ago

U.S. sanctions on Russian oligarchs miss richest of rich

The Hindu  

The term Russian oligarch conjures images of posh London mansions, gold-plated Bentleys and sleek superyachts in the Mediterranean, their decks draped with partiers dripping in jewels. Mr. Biden said Thursday the new U.S. sanctions would nonetheless cripple Russia’s financial system and stymie its economic growth by targeting Russia’s biggest banks, which the Treasury Department said holds nearly 80% of all …

US sanctions on Russian oligarchs miss richest of rich
2 years, 9 months ago

US sanctions on Russian oligarchs miss richest of rich

Associated Press  

WASHINGTON — The term Russian oligarch conjures images of posh London mansions, gold-plated Bentleys and sleek superyachts in the Mediterranean, their decks draped with partiers dripping in jewels. Daniel Fried, a former U.S. official under both Democratic and Republican administrations who helped craft U.S. sanctions against Moscow in the wake of Putin’s 2014 invasion of the Crimean Peninsula, said he …

Ukraine-Russia crisis: Will China be Putin’s economic lifeline?
2 years, 10 months ago

Ukraine-Russia crisis: Will China be Putin’s economic lifeline?

Al Jazeera  

Beijing has emerged as a key player with the potential to undermine the international pressure campaign against Moscow. Qinduo Xu, a senior fellow at Pangoal Institution in Beijing, said China would continue business with Russia “as usual” out of adherence to its long-stated opposition to unilateral sanctions. “Russia’s exports to China are predominantly made up of energy resources and minerals,” …

Russia has spent years preparing for international sanctions
2 years, 10 months ago

Russia has spent years preparing for international sanctions

LA Times  

With no appetite for military confrontation, the U.S. and its allies are relying on sweeping economic sanctions to persuade Russian President Vladimir Putin to pull out of Ukraine. “Putin and Lavrov are very well insulated from such action.” Sanctions would have to go deeper into the lives of Russia’s elite to place pressure on Putin, others said. “Seizing the estates …

Russian billionaires see wealth tumble as tensions escalate
2 years, 10 months ago

Russian billionaires see wealth tumble as tensions escalate

Al Jazeera  

As Ukraine conflict intensifies, the fortunes of Russia’s super-rich have shrunk amid sanctions and sinking stock markets. The fortunes of Russia’s super-rich have tumbled $32 billion this year, with the escalating conflict in Ukraine poised to make that wealth destruction much larger. U.S. President Joe Biden on Tuesday unleashed sanctions targeting Russia’s sale of sovereign debt abroad and the country’s …

Ukraine crisis: Asia braces for economic fallout
2 years, 10 months ago

Ukraine crisis: Asia braces for economic fallout

Al Jazeera  

Analysts see both winners and losers from crisis, with China likely to benefit from diversion of Russian exports. Ian Hall, deputy director of the Griffith Asia Institute in Brisbane, Australia, said India, the world’s third-largest oil importer, would be among the countries susceptible to a major economic shock. TS Tirumurti, India’s permanent representative to UN, on Tuesday said the crisis …

Joe Biden wages financial warfare against Putin as Ukraine tensions mount
3 years ago

Joe Biden wages financial warfare against Putin as Ukraine tensions mount

The Telegraph  

As Vladimir Putin amasses 70,000 troops on the Ukrainian border, Joe Biden is threatening a “shock and awe” campaign of financial warfare which could bring its adversary to its knees. The Democrat was Vice-President when Russian forces annexed the Crimea almost eight years ago and the US stood by - seen as one of Barack Obama’s weakest moments on the …

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