Russian Oligarch Deripaska Suggested Collapsing The Ruble

• 1.04.2026, 17:24

To make the Russians rich.

The founder of Rusal, Russian oligarch Oleg Deripaska has sharply criticized Russia's current monetary policy. According to the businessman, the strengthening of the national currency negatively affects the incomes of citizens, making them actually poorer. The billionaire put the responsibility for the fall in living standards on macroeconomists who allowed excessive, in his opinion, strengthening of the ruble.

To overcome the crisis Deripaska proposes radical measures: reduction of the key rate of the Central Bank to 6% and devaluation of the ruble to 105 per dollar. In addition, the entrepreneur considers it necessary to switch to an increased work schedule - 12 hours, six days a week, claiming that such measures would allow the economy to recover within five years.

The changes in monetary policy that Deripaska says will affect the aluminum business of Rusal, which he founded and which posted its first net annual loss since 2014, notes The Moscow Times. The company has 12 smelters and is the largest aluminum producer in the world outside of China, but it lost $455 million in 2025. Although Rusal's revenue increased 17% to $14.1 billion, the company is sharply increasing its ruble-denominated costs due to rising interest rates in Russia and the ruble's fall: loan servicing costs by 71%, commercial expenses, which include logistics, by 25%, and production and personnel costs by 12%. The fall in the value of the ruble may improve Rusal's business performance.