Russian oligarchs are venting their anger towards Vladimir Putin over his “path to bankruptcy” as Russia is in an economic disaster.
Business leaders and oligarchs are all venting fury at the central bank’s governor Elvira Nabiullina.
Putin’s war in Ukraine has seen more than 40,000 sanctions hitting the country which has helped to cause soaring inflation and non-favourable interest rates which is leaving the Russian elite “discontent.”
Today Russia’s Central Bank is expected to increase their interest rates in an attempt to deal with the soaring price rises, items such as butter and potatoes are skyrocketing leaving citizens unable to buy simple staple foods.
In November Russia consumer price index hit 8.9% up from 8.5% the previous month which is seeing soaring food prices.
Billionaire businessman Alexei Mordashov told Russia’s RBC, “Today’s central bank rates are a very serious challenge to the development of the economy and industry.”
A Putin ally who is a leading businessman, Sergey Chemezov told Interfax news agency, “Taking out a loan at a crazy interest rate is suicide for a business.
“This is the path to bankruptcy.”
He said, “Is this the right medicine? I hope that the medicine does not turn out to be more harmful than the disease.”
The Express reported, a former Russian Central Bank official told The Wall Street Journal (WSJ), “The elites are fighting for survival and while they remain loyal to Putin, they are increasingly discontent,” adding that “Nabiullina has become a convenient target.”
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