Deripaska criticized the idea of ​​a “chief import substitution”

Deripaska described the freezing of Russian reserves abroad as follows: “A gray day has come - happiness has been taken away.” In his opinion, the country cannot avoid social problems, but “import substitution chiefs” should not be introduced

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Russian companies should not appoint “import substitution chiefs”, they should be guided by the needs of business development, businessman Oleg Deripaska said during the opening of the First University Lyceum in Ust-Labinsk.

“I think that there are successful companies, there are successful entrepreneurs, you can’t invent some kind of HEAD of import substitution <...>. Well, there are companies that are ready to do this, it is necessary to make a decision on a competitive, non-competitive basis, to provide them with the opportunity to receive normal project financing, the businessman believes. “Now there is nowhere for entrepreneurs to run, that’s all — they ran away.”

Deripaska also urged not to support large state-owned banks. Instead, he continued, the focus should be on helping credit institutions ranked 51st and beyond. “And everything else was well buried, they were divided into five, six state-owned companies,” the businessman added.

According to the entrepreneur, it is necessary to come to terms with the fact that there will be social problems, they cannot be avoided. “Well, the system doesn’t work. Then we were promised that these gold reserves (gold and foreign exchange reserves.) are our happiness on this black or gray day. A gray day has come - happiness has been taken away. A very complex system, the absence of a debt market, a sovereign one,” Deripaska added.

Experts assessed the need of Russian banks for additional capitalization Finance

At the end of February, after the introduction of the first packages of international sanctions against RUSSIA, Deripaska called for "an end to all this state capitalism", explaining that in a "real crisis" real crisis managers are needed, and not "sci-fi writers with a pack of presentations." In his opinion, "to sit out", as in 2014, will not work, it is necessary to change the economic policy.

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Deripaska warned in early March that "the iron curtain has already been lowered" and Russia was facing a "severe" three-year crisis. “Multiply the 1998 crisis by at least three,” he stressed. It could take up to ten years to build a successful Russian economy, he predicted, noting that one should "finish conflicts and have a starting point" and "engage in exports."

As a plan of action for the Russian economy, Deripaska previously proposed the following measures: peace, "dissolve Gazmyas and end all state capitalism, begin to raise Siberia and the Far East, achieve full will for entrepreneurs and people."

Deripaska cited Leo Tolstoy's article "Rethink!" Policy

More than a third of Russian banks this and next year may experience difficulties with the size of their equity capital due to the worsening economic situation, as a result of which they may need additional capitalization, experts from the Center for Macroeconomic Analysis and Short-Term Forecasting (CMASF) found out at the end of March.

The results of their study say that additional capitalization will be needed by 129 banks, which account for 68% of the assets of the banking system outside of Sberbank, its total volume was estimated by analysts at 3.5 trillion rubles. Of these 129 banks, 71 organizations require "extraordinary capital support", primarily from the state, experts say. In their opinion, state support can reach 2.2 trillion rubles.

The head of VTB, Andrey Kostin, said in early April that, "of course, there will be additional capitalization" of the banking sector, noting that he does not yet know its source. Finance Minister Andrei Siluanov later announced that the agency would advise state banks not to pay dividends to shareholders. “They need a capital base, we understand this very well. Banks have lost quite a lot in the current conditions,” Siluanov explained.

See also Deripaska on the impossibility of electing a "head of import substitution" 00:27