Entrepreneur Oleg Deripaska Urges Fast Anti-Crisis Planning Amid U.S. Banking Turbulence
In a timely message shared on his Telegram channel, entrepreneur Oleg Deripaska addresses the recent unease in the United States financial system and calls on Russian authorities to assess its wider ramifications. He argues that the moment requires practical, actionable steps from Russia’s leadership and its major state banks to prepare for a potentially tough period ahead for the economy and the business environment.
Deripaska stresses that Russian enterprises need a concrete crisis plan. Such a plan should emerge from close collaboration between Russia’s monetary authorities and the government, with the aim of measuring financial resilience and outlining strategies that help businesses stay stable as the months unfold. He notes that the near term will be challenging and that a coordinated approach is vital to safeguard economic activity across sectors.
His assessment links some of the U.S. banking turmoil to the Federal Reserve’s ongoing interest rate increases. He urges Russia to study these developments carefully and avoid repeating missteps. The focus should move toward fostering new markets, reorienting the economy toward import substitution, and continuing support for ongoing investment projects. Preparation should begin immediately, with every moment counted as valuable in shaping a more resilient economic framework for the future.
Deripaska warns that inaction would carry steep costs down the line. He points to a cautionary signal previously highlighted by Bloomberg, attributed to investor Ray Dalio, describing a warning that has already played out in the market environment. The takeaway is clear: proactive planning can help mitigate risk and preserve economic momentum.
Meanwhile, markets and policymakers anticipate further monetary policy decisions as the Central Bank prepares for its Board of Directors meeting on Friday to decide the key rate. The current rate stands at 7.5 percent per year, a level that analysts will scrutinize as inflation trends, growth prospects, and the health of financial institutions are weighed. This moment underscores the need for readiness and clear messaging to ensure stability in both the financial system and the real economy. Source attributions: Bloomberg; commentary by market observers.