Deripaska slams government interference with business

On March 2nd, 2023, the former President of En+ Group and the founder of the Russian aluminium giant, Oleg Deripaska, urged the Russian government to prevent it from interfering in business and rather develop a formulaic environment established on the rule of law to allure foreign investors back to Russia's sanctions-hit economy.

At an economic forum in Krasnoyarsk, the former aluminium tycoon stated that he doesn't expect a "de-escalation" of the conflict with Ukraine before mid-2025. At the same time, Western investors may not return for another decade.

Deripaska said he was scathing about the business climate in an economy where the Kremlin is increasingly focused on the war effort. Still, he hoped Russia could attract investors from friendly countries that have not joined the Western sanctions imposed on Russia for the geopolitical crisis with Ukraine.

Deripaska said, "I'm apprehensive all the time that the state and business are constantly being set against each other." He also questioned why the state needed "two prosecutors and four inspectors for each entrepreneur."