Russian oligarch Oleg Deripaska said that Russia is likely to run out of money by 2024 unless the nation receives investment from “friendly” countries as the sanction imposed by the Westen countries continue to bite.&nbsp;

An energy and metals tycoon who once held the tag of Russia’s richest person, Deripaska, said, There will be no money already next year. We will need foreign investors.”

He was speaking at an investment conference in Siberia on Thursday. The tycoon has also been impacted by the sanctions imposed by the US, UK and EU against Russia for invading Ukraine.&nbsp;

ALSO READ | <a href="https://www.wionews.com/world/torture-centres-in-kherson-planned-and-financed-by-russia-lawyer-group-says-567607">Torture centres in Kherson planned and financed by Russia, says lawyer group</a>

He said that funds have been running low and “that’s why they’ve (the Russian government) already begun to shake us down”, according to a Bloomberg report.

He stated that Russia has been facing “serious” pressure because of western sanctions and that Moscow and its businesses need to look to other countries which have “serious resources” to invest.

“We thought we were a European country,” said Deripaska, &nbsp;founder of Rusal which is the biggest producer of aluminium outside China.&nbsp;

“Now, for the next 25 years, we will think more about our Asian past," he added.&nbsp;

The comment comes amid warnings of the European ratings agency Scope that the budget deficit of Russia may increase to 3.5 per cent of gross domestic product (GDP), in comparison to the government’s forecast of 2 per cent of GDP. The official shortfall of 2.3 per cent was recorded in 2022.&nbsp;

Scope stated that the fall was a result of lower revenues from oil and gas exports, as the West distanced itself from Russian energy.

WATCH | NATO: World more dangerous with Russia suspending START treaty

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&nbsp;“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 a Reuters report.&nbsp;

“For now, Russia can finance its deficit relatively easily by drawing down the national wealth fund, set to amount to only 3.7 per cent of GDP by end-2024 from 10.4 per cent of GDP at end-2021," it added.&nbsp;

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Russian oligarch Oleg Deripaska said that Russia is likely to run out of money by 2024 unless the nation receives investment from “friendly” countries as the sanction imposed by the Westen countries continue to bite.

Russian oligarch Oleg Deripaska said that Russia is likely to run out of money by 2024 unless the nation receives investment from “friendly” countries as the sanction imposed by the Westen countries continue to bite. An energy and metals tycoon who once held the tag of Russia’s richest person, Deripaska, said, There will be no money already next year. We will need foreign investors.” He was speaking at an investment conference in Siberia on Thursday. The tycoon has also been impacted by the sanctions imposed by the US, UK and EU against Russia for invading Ukraine. ALSO READ | Torture centres in Kherson planned and financed by Russia, says lawyer group He said that funds have been running low and “that’s why they’ve (the Russian government) already begun to shake us down”, according to a Bloomberg report. He stated that Russia has been facing “serious” pressure because of western sanctions and that Moscow and its businesses need to look to other countries which have “serious resources” to invest. “We thought we were a European country,” said Deripaska, founder of Rusal which is the biggest producer of aluminium outside China. “Now, for the next 25 years, we will think more about our Asian past," he added. The comment comes amid warnings of the European ratings agency Scope that the budget deficit of Russia may increase to 3.5 per cent of gross domestic product (GDP), in comparison to the government’s forecast of 2 per cent of GDP. The official shortfall of 2.3 per cent was recorded in 2022. Scope stated that the fall was a result of lower revenues from oil and gas exports, as the West distanced itself from Russian energy. WATCH | NATO: World more dangerous with Russia suspending START treaty “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 a Reuters report. “For now, Russia can finance its deficit relatively easily by drawing down the national wealth fund, set to amount to only 3.7 per cent of GDP by end-2024 from 10.4 per cent of GDP at end-2021," it added. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Russia likely to run out of money next year, claims oligarch Oleg Deripaska

Russian billionaire Oleg Deripaska said on Sunday that US&nbsp;President Joe Biden's speech in Warsaw indicated that some sort of "hellish ideological mobilisation" was underway that may usher in a much longer conflict in Ukraine.

Deripaska said he had thought the conflict in Ukraine was "mad" and that it could be stopped three weeks ago through talks.

"But now some sort of hellish ideological mobilisation is underway from all sides," Deripaska said. "That's it: these people are preparing to fight for a few years more."

It comes after US President Joe Biden branded Putin a "butcher" who "cannot remain in power".&nbsp;

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The Kremlin had reacted in fury over Biden's comments which it said narrows the window for bilateral relations, with Russia's invasion of Ukraine now into a second month.

Ukrainian President Volodymyr Zelensky has accused the West of cowardice as his country fights to stave off Russia’s invading troops, making an exasperated plea for fighter jets and tanks to sustain a defense as the war ground into a battle of attrition.

He lashed out Sunday at the West’s “ping-pong about who and how should hand over jets” and other weapons while Russian missile attacks kill and trap civilians.

“I’ve talked to the defenders of Mariupol today. I’m in constant contact with them. Their determination, heroism and firmness are astonishing,” Zelensky said in a video address, referring to the besieged southern city that has suffered some of the war’s greatest deprivations and horrors.&nbsp;

“If only those who have been thinking for 31 days on how to hand over dozens of jets and tanks had 1 per cent&nbsp;of their courage.”

Also read |&nbsp;<a href="https://www.wionews.com/world/leading-energy-analyst-says-russian-gas-sales-to-china-will-not-make-up-for-loss-of-european-markets-465956">Russian gas sales to China 'will not make up for loss of European markets'</a>

US Secretary of State Antony Blinken, meanwhile, announced an additional $100 million in aid to help Ukraine police and border guards purchase armoured vehicles, equipment and medical supplies.

On the frontlines, Russia's far-bigger military continued to combat determined Ukrainian defenders who are using Western-supplied weapons, from near the capital Kyiv to Kharkiv, the eastern Donbas region and the devastated southern port city of Mariupol.

Moscow claims its focus is on wresting from Ukraine the entire eastern Donbas region, which has been partially controlled by Russia-backed separatists since 2014.&nbsp;

(With inputs from agencies)

Russian billionaire Oleg Deripaska said on Sunday that US President Joe Biden's speech in Warsaw indicated that some sort of "hellish ideological mobilisation" was underway that may usher in a much longer conflict in Ukraine.

Russian billionaire Oleg Deripaska said on Sunday that US President Joe Biden's speech in Warsaw indicated that some sort of "hellish ideological mobilisation" was underway that may usher in a much longer conflict in Ukraine. Deripaska said he had thought the conflict in Ukraine was "mad" and that it could be stopped three weeks ago through talks. "But now some sort of hellish ideological mobilisation is underway from all sides," Deripaska said. "That's it: these people are preparing to fight for a few years more." It comes after US President Joe Biden branded Putin a "butcher" who "cannot remain in power". The Kremlin had reacted in fury over Biden's comments which it said narrows the window for bilateral relations, with Russia's invasion of Ukraine now into a second month. Ukrainian President Volodymyr Zelensky has accused the West of cowardice as his country fights to stave off Russia’s invading troops, making an exasperated plea for fighter jets and tanks to sustain a defense as the war ground into a battle of attrition. He lashed out Sunday at the West’s “ping-pong about who and how should hand over jets” and other weapons while Russian missile attacks kill and trap civilians. “I’ve talked to the defenders of Mariupol today. I’m in constant contact with them. Their determination, heroism and firmness are astonishing,” Zelensky said in a video address, referring to the besieged southern city that has suffered some of the war’s greatest deprivations and horrors. “If only those who have been thinking for 31 days on how to hand over dozens of jets and tanks had 1 per cent of their courage.” Also read | Russian gas sales to China 'will not make up for loss of European markets' US Secretary of State Antony Blinken, meanwhile, announced an additional $100 million in aid to help Ukraine police and border guards purchase armoured vehicles, equipment and medical supplies. On the frontlines, Russia's far-bigger military continued to combat determined Ukrainian defenders who are using Western-supplied weapons, from near the capital Kyiv to Kharkiv, the eastern Donbas region and the devastated southern port city of Mariupol. Moscow claims its focus is on wresting from Ukraine the entire eastern Donbas region, which has been partially controlled by Russia-backed separatists since 2014. (With inputs from agencies)

Ukraine invasion: Russian tycoon Oleg Deripaska says 'hellish mobilisation' is underway

New emails have revealed that US President Joe Biden's son, Hunter Biden had tried to sell the refined analysis of Russian oligarch Oleg Deripaska.

Rosemont Seneca, the company that tried to sell ''political and corporate risks, elite networks associated with Oleg Deripaska,'' is run by Christopher Heinz and Hunter Biden.

Hunter had sent an email to Alcoa's Vice President Daniel Cruise according to a report by 'The New York Post.'&nbsp;The asking price for phase one of the project was $25,000 while for a&nbsp;refined analysis it was $55,000.

Deripaska was of interest to Alcoa as he is the founder of Russian aluminum giant Rusal.

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Cruise's colleague Pei Chang had shown interest in ''the list of Russian elites connected to OD [Deripaska] that would not otherwise be on the Government Affairs team's radar, including various Russian Committee Heads, Union leaders or Ministers.''

The emails have emerged after the FBI raided Washington and New York City homes linked to Oleg Deripaska, a billionaire and a close ally of Russian leader Vladimir Putin.

<a href="https://www.wionews.com/entertainment/lifestyle/news-hunter-biden%E2%80%99s-memoir-7-takeaways-from-%E2%80%98beautiful-things%E2%80%99-374496">Also read |&nbsp;Hunter Biden’s memoir: 7 takeaways from ‘Beautiful Things’</a>

According to US Treasury Department, "There are allegations that Deripaska bribed a government official, ordered the murder of a businessman and had links to a Russian organised crime group."

Deripaska filed a lawsuit in March 2019 against the Treasury Department, accusing it of illegally targeting him, but the suit was tossed out this year by a federal judge.

The suit claimed that Deripaska's net worth had dropped by $7.5 billion after the sanctions were imposed on him and six other Russian oligarchs by the Trump administration in April 2018.

Washington imposed sanctions on Deripaska, 53, and other influential Russians because of their ties to Russian President Vladimir Putin after alleged Russian interference in the 2016 election which Moscow denies.

Deripaska once employed Manafort, who was convicted in 2018 of criminal charges arising from the US investigation into the alleged interference but was pardoned by then-president Trump in December.

(With inputs from agencies)

New emails have revealed that US President Joe Biden's son, Hunter Biden had tried to sell the refined analysis of Russian oligarch Oleg Deripaska. Rosemont Seneca, the company that tried to sell ''political and corporate risks, elite networks associated with Oleg Deripaska,'' is run by Christopher Heinz and Hunter Biden.

New emails have revealed that US President Joe Biden's son, Hunter Biden had tried to sell the refined analysis of Russian oligarch Oleg Deripaska. Rosemont Seneca, the company that tried to sell ''political and corporate risks, elite networks associated with Oleg Deripaska,'' is run by Christopher Heinz and Hunter Biden. Hunter had sent an email to Alcoa's Vice President Daniel Cruise according to a report by 'The New York Post.' The asking price for phase one of the project was $25,000 while for a refined analysis it was $55,000. Deripaska was of interest to Alcoa as he is the founder of Russian aluminum giant Rusal. Cruise's colleague Pei Chang had shown interest in ''the list of Russian elites connected to OD [Deripaska] that would not otherwise be on the Government Affairs team's radar, including various Russian Committee Heads, Union leaders or Ministers.'' The emails have emerged after the FBI raided Washington and New York City homes linked to Oleg Deripaska, a billionaire and a close ally of Russian leader Vladimir Putin. Also read | Hunter Biden’s memoir: 7 takeaways from ‘Beautiful Things’ According to US Treasury Department, "There are allegations that Deripaska bribed a government official, ordered the murder of a businessman and had links to a Russian organised crime group." Deripaska filed a lawsuit in March 2019 against the Treasury Department, accusing it of illegally targeting him, but the suit was tossed out this year by a federal judge. The suit claimed that Deripaska's net worth had dropped by $7.5 billion after the sanctions were imposed on him and six other Russian oligarchs by the Trump administration in April 2018. Washington imposed sanctions on Deripaska, 53, and other influential Russians because of their ties to Russian President Vladimir Putin after alleged Russian interference in the 2016 election which Moscow denies. Deripaska once employed Manafort, who was convicted in 2018 of criminal charges arising from the US investigation into the alleged interference but was pardoned by then-president Trump in December. (With inputs from agencies)

Hunter Biden tried to sell refined analysis of Russian oligarch Oleg Deripaska

&nbsp;In a victory for President Donald Trump, the <a href="http://www.wionews.com/world/world-bank-says-assumption-is-russia-sanctions-will-stay-the-same-181465">US&nbsp;Senate on Wednesday rejected</a> legislation to keep sanctions on companies linked to Russian oligarch Oleg Deripaska, including aluminum firm Rusal.

Senators voted 57-42 to end debate on the measure, as 11 of Trump's fellow Republicans broke from party leaders to join Democrats in favour of the resolution, amid questions about Trump's relationship with Russian President Vladimir Putin.

That result fell short of the 60 votes necessary to advance to a final passage vote in the 100-member Senate, where Republicans have a 53-47 seat majority.

A similar measure will be brought up for a vote on Thursday in the House of Representatives, where Democrats control a majority of seats. But its long-term fate was uncertain. To keep the administration from lifting the sanctions, the measure must pass both the House and Senate and muster the two-thirds majority needed in both chambers to override an expected Trump veto.

Many members of Congress have been questioning the US&nbsp;Treasury Department's decision in December to ease sanctions imposed in April on the core businesses of Deripaska - Rusal, its parent, En, and power firm EuroSibEnergo - watering down the toughest penalties imposed on Russian entities since Moscow's 2014 annexation of Crimea from Ukraine.

Deripaska, an influential businessman close to Putin, himself would remain subject to US&nbsp;sanctions.

The Trump administration pushed Republican lawmakers not to support the resolution introduced by Senate Democratic leader Chuck Schumer, which would have prevented the administration from lifting the sanctions.

"Forty-two Republican senators chose today to stand with Vladimir Putin," Schumer said in a statement. "I’m extremely disappointed that many of my Republican colleagues are too afraid of breaking with President Trump to stand up to a thug."

Senate aides said Treasury officials had approached senators and staff repeatedly in recent days to argue that it was appropriate to lift the sanctions because Deripaska had agreed to cut back his controlling stakes.

They said the sanctions on Deripaska would punish him, but lifting restrictions on the companies would avoid potential effects on companies in the United States, Europe and elsewhere.

Rusal is the world's largest aluminum producer outside China. The sanctions on the company spurred demand for Chinese metal. China's aluminum exports jumped to a record high in 2018.

The Russian companies, along with some European governments, also lobbied for months for the sanctions to be eased.

Irish foreign minister Simon Coveney welcomed the outcome of the Senate vote, saying he hoped it would pave the way for sanctions to be lifted that affect the Irish company Aughinish Alumina, a Rusal unit.

"We respect different views in US&nbsp;on sanctions, but our focus has always been on protecting jobs and livelihoods in Ireland and EU," he said on Twitter.

Democrats had been optimistic they would get 60 votes on Wednesday, after 11 Republicans made the unusual break from Trump policies and supported the resolution in procedural voting on Tuesday.

Backers of the resolution of disapproval said it was too soon to ease sanctions, given Russia's continuing aggression in Ukraine, the finding by U.S. intelligence that Moscow interfered in the 2016 U.S. election to boost Trump, and Russia's support for the Syrian government in that country's civil war.

The US&nbsp;military said on Wednesday that four Americans had been killed in Syria in a bomb attack claimed by Islamic State militants.

Deripaska had ties with Paul Manafort, Trump’s former campaign manager, documents have shown. Manafort is awaiting sentencing after pleading guilty to conspiracy against the United States.

The Senate's Republican majority leader, Mitch McConnell, dismissed the Democratic-led resolution as a political stunt.

In a victory for President Donald Trump, the US Senate on Wednesday rejected legislation to keep sanctions on companies linked to Russian oligarch Oleg Deripaska, including aluminum firm Rusal.

In a victory for President Donald Trump, the US Senate on Wednesday rejected legislation to keep sanctions on companies linked to Russian oligarch Oleg Deripaska, including aluminum firm Rusal. Senators voted 57-42 to end debate on the measure, as 11 of Trump's fellow Republicans broke from party leaders to join Democrats in favour of the resolution, amid questions about Trump's relationship with Russian President Vladimir Putin. That result fell short of the 60 votes necessary to advance to a final passage vote in the 100-member Senate, where Republicans have a 53-47 seat majority. A similar measure will be brought up for a vote on Thursday in the House of Representatives, where Democrats control a majority of seats. But its long-term fate was uncertain. To keep the administration from lifting the sanctions, the measure must pass both the House and Senate and muster the two-thirds majority needed in both chambers to override an expected Trump veto. Many members of Congress have been questioning the US Treasury Department's decision in December to ease sanctions imposed in April on the core businesses of Deripaska - Rusal, its parent, En, and power firm EuroSibEnergo - watering down the toughest penalties imposed on Russian entities since Moscow's 2014 annexation of Crimea from Ukraine. Deripaska, an influential businessman close to Putin, himself would remain subject to US sanctions. The Trump administration pushed Republican lawmakers not to support the resolution introduced by Senate Democratic leader Chuck Schumer, which would have prevented the administration from lifting the sanctions. "Forty-two Republican senators chose today to stand with Vladimir Putin," Schumer said in a statement. "I’m extremely disappointed that many of my Republican colleagues are too afraid of breaking with President Trump to stand up to a thug." Senate aides said Treasury officials had approached senators and staff repeatedly in recent days to argue that it was appropriate to lift the sanctions because Deripaska had agreed to cut back his controlling stakes. They said the sanctions on Deripaska would punish him, but lifting restrictions on the companies would avoid potential effects on companies in the United States, Europe and elsewhere. Rusal is the world's largest aluminum producer outside China. The sanctions on the company spurred demand for Chinese metal. China's aluminum exports jumped to a record high in 2018. The Russian companies, along with some European governments, also lobbied for months for the sanctions to be eased. Irish foreign minister Simon Coveney welcomed the outcome of the Senate vote, saying he hoped it would pave the way for sanctions to be lifted that affect the Irish company Aughinish Alumina, a Rusal unit. "We respect different views in US on sanctions, but our focus has always been on protecting jobs and livelihoods in Ireland and EU," he said on Twitter. Democrats had been optimistic they would get 60 votes on Wednesday, after 11 Republicans made the unusual break from Trump policies and supported the resolution in procedural voting on Tuesday. Backers of the resolution of disapproval said it was too soon to ease sanctions, given Russia's continuing aggression in Ukraine, the finding by U.S. intelligence that Moscow interfered in the 2016 U.S. election to boost Trump, and Russia's support for the Syrian government in that country's civil war. The US military said on Wednesday that four Americans had been killed in Syria in a bomb attack claimed by Islamic State militants. Deripaska had ties with Paul Manafort, Trump’s former campaign manager, documents have shown. Manafort is awaiting sentencing after pleading guilty to conspiracy against the United States. The Senate's Republican majority leader, Mitch McConnell, dismissed the Democratic-led resolution as a political stunt.

US Senate rejects sanctions on Russia's aluminium firm Rusal, tycoon Deripaska

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Russia likely to run out of money next year, claims oligarch Oleg Deripaska

Ukraine invasion: Russian tycoon Oleg Deripaska says 'hellish mobilisation' is underway

Hunter Biden tried to sell refined analysis of Russian oligarch Oleg Deripaska

US Senate rejects sanctions on Russia's aluminium firm Rusal, tycoon Deripaska