Aluminum giant Rusal tycoon calls for an end to “state capitalism” in Russia

Tycoon Oleg Deripaska, of the aluminum giant Rusal, called for an end to “state capitalism” in Russia in the face of the crisis caused by Western sanctions, following the Russian invasion of Ukraine.

“It is a real crisis, and real crisis experts are needed, we must absolutely change our economic policy and put an end to all this state capitalism,” the billionaire creator of the aluminum giant Rusal wrote on Telegram.

Contrary to 2014 when the first sanctions adopted after the annexation of the Ukrainian peninsula of Crimea by Russia were applied, “it is no longer possible to wait,” added Deripaska, who is part of the 50 richest people in Russia.

He said that he expects from the government “clarifications and clear comments on the economic policy of the next three months.”

This is an exceptional criticism of the economic elite to the Kremlin since the arrival to power of Vladimir Putin.

Another Russian billionaire, Oleg Tinkov, founder of the Tinkoff bank, also criticized the Ukraine invasion in a message posted on Monday.

“Today, in Ukraine, innocents die every day, it is unthinkable and unacceptable!” he stated on Instagram, and asked to “spend money to care for people, for cancer research and not to wage war”.

One of Russia’s richest men, Roman Abramovitch, “was contacted by Ukraine to help find a solution and has been working on it ever since,” spokesman Rola Brentlin said.

On Sunday, Russian millionaire Mikhail Fridman denounced the war in Ukraine in a letter to employees of his LetterOne fund.

“I am convinced that war should never be the answer. This crisis is going to cost lives and will devastate two sister nations for hundreds of years”, he wrote, hoping that this “bloodshed” will end.

These stances come as Western countries decided to extend sanctions against Russia to financial and industrial tycoons.