Oligarch Deripaska Surprised by Russia's Resilience Amid Sanctions

Oligarch Oleg Deripaska, who previously predicted that sanctions-hit Russia may run out of money next year, expressed surprise at the country's economic resilience. Despite sweeping sanctions, Russia's economy has been supported by defense and government spending, as well as demand from countries in the global south for its vast resources. Deripaska, who is worth $2.3 billion and has been sanctioned by the US and EU, believes that the private economy has found successful ways to operate. He also criticized the effectiveness of sanctions in the 21st century.