Deripaska called sanctions an outdated tool that no longer works in the 21st century

Deripaska called sanctions an outdated tool that no longer works in the 21st century

"Why not stop it on both sides - I don't see anyone achieving the stated goal," he said about the war

Deripaska called sanctions an outdated tool that no longer works in the 21st century

In an interview with the Financial Times, Russian billionaire Oleg Deripaska expressed doubts that the sanctions imposed by Western countries over Russia's invasion of Ukraine will bring the end of the war closer.

The founder of Rusal has become one of the few Russian businessmen who have spoken out – albeit cautiously – against the war in Ukraine. According to the FT, Deripaska lost some of his assets in Sochi because of his critical statements.

The businessman did not comment on this, but spoke very cautiously about the war in the interview.

"I don't understand why it shouldn't be stopped on both sides," Deripaska said, "I don't see anyone achieving their stated goal.

"Are you going to give Ukraine F-16s, F-35s? You know, the only goal that will be achieved is more suffering, more lives lost and more wounded," the billionaire said.

Continued hostilities, Deripaska believes, will mean "another 50,000 killed on both sides [and] maybe 150,000 wounded" by next year.

"Do you really believe that it is wise to make another 200,000 people suffer for another 12 months?" he said.

Deripaska, who has been on the US sanctions list since 2018 and on the EU list since 2022, called sanctions an outdated tool that can no longer work in the 21st century.

"I have always had my doubts about this, as the Germans used to say, Wunderwaffe [miracle weapon] in the form of sanctions, which turns the financial system into a kind of negotiating tool," he said.

"The belief that sanctions will stop the war or lead to regime change or somehow bring us closer to ending the conflict... No. We have to find another solution," the businessman added, although he did not offer any other solutions.

Background. As a reminder, Deripaska has become the leader among Russian oligarchs in terms of the number of confiscated businesses in Ukraine.

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