Putin 'running out of money' with Ukraine war admits close ally as he breaks ranks to attack Kremlin
Vladimir Putin has been warned he is 'running out of money' for war
REUTERS
A prominent Russian oligarch has warned Vladimir Putin is rapidly running out of money to fund his Ukraine invasion.
Oleg Deripaska, 55, warned that the country would be unable to keep ploughing money into the war due to the collapse of its national economy.
He warned that unless Russia finds new ways to replace western investment, it would be unable to keep funding its military operation.
Deripaska told an investment conference in Siberia: "There will be no money already next year. We will need foreign investors."
Oleg Deripaska warned the country could not keep ploughing money into the war
REUTERS
More than 1,300 western companies are withdrawing from Russia as a result of Putin's actions in Ukraine.
The energy and metals tycoon added that the government has begun to “shake down” businesses in a bid to make up for lost funds.
In January Russia recorded its biggest budget deficit since the turn of the century.
European ratings agency Scope warned that the deficit is set to continue to grow in the months ahead.
Appearing to take a veiled swipe at Putin, Deripaska added that the Kremlin should "stop dreaming about some special place for Russia in the world and go about its own business".
Putin has vowed he will stop at nothing to claim victory over Kyiv despite the country's dire economic situation.
Admitting the situation is "difficult", he in a speech to make the one year anniversary of the invasion that Russians experiencing a 'watershed moment".
He said: "I am making this address at a time which we all know is a difficult, watershed moment for our country, a time of cardinal, irreversible changes around the world, the most important historic events that will shape the future of our country and our people.
Vladimir Putin said Russia would be victorious in an anniversary speech
REUTERS
"We did everything possible, genuinely everything possible, in order to solve this problem [in Ukraine] by peaceful means.
"We were patient, we were negotiating a peaceful way out of this difficult conflict, but a completely different scenario was being prepared behind our backs."
He added: “It's they who have started the war. And we are using force to end it.”
It is estimated as many as 60,000 Russian troops have died since the start of the war over a year ago, with a further 200,000 injured.