12/6 Model: Russian Oligarch Proposes This "Rescue" for Russia's Economy
Russian oligarch Oleg Deripaska has found a "unique" way for Russians to save the country's economy from a new round of global crisis. In his view, extending working hours is necessary.
Deripaska proposes a work schedule from 8 a.m. to 8 p.m., including Saturdays. According to him, Russia possesses only one resource tied to its "national character"—"in difficult times, we know how to unite and work twice as hard."
"The earlier we switch to this new routine—8 a.m. to 8 p.m., including Saturday work—the faster we can complete this transformation," he stated. Only in this way, he argues, can the economy adapt to the new environment, as the world will have fundamentally changed starting in 2026.
"This is no longer an economic crisis caused merely by bank interest rates and the futile efforts of the Central Bank’s macroeconomists to prop up the ruble exchange rate. Nor is it simply the consequence of powerful institutions destroying the legal framework that once served as the foundation for both domestic and foreign investment in Russia’s economy. This crisis runs deeper—it stems from a painful structural transition."
Previously, Deripaska proposed emergency economic support measures in response to the Middle East war. He suggested loosening the ruble exchange rate to 105 rubles per dollar and cutting the key interest rate to 6%.
Earlier, Deripaska participated in a meeting between Russian oligarchs and Putin, during which Kremlin officials pressured business leaders to contribute funds. The idea originated with Sergei Chemezov, a close friend of Putin and head of Rosneft. According to a report by the Financial Times, it was he and another businessman who directly declared their willingness to voluntarily donate money to bolster the state budget.
The ongoing conflict in Iran and the blockade of the Strait of Hormuz have driven oil prices upward. Despite international sanctions, Russia’s revenues have increased. Meanwhile, Ukrainian drone attacks have severely damaged Russia’s oil infrastructure, limiting its export capacity. Russia has lost nearly 40% of its external oil supply capability.
Original: toutiao.com/article/1861128980513802/
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