Russia’s largest industrialist warns of a bleak future

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Russia’s largest industrialist warns of a dangerous dead end for his country.

Moscow – Of all people, one of Russia’s most powerful entrepreneurs is openly questioning the country’s current development. The oligarch Andrei Melnichenko, according to the British magazine The Economist Russia’s largest industrialist warns of a dangerous dead end.

The war against Ukraine, economic pressure and political hardening could lead Russia into a serious crisis in the long term. Melnichenko is not part of the opposition. According to the magazine, his companies benefited from the war economy, and he has not yet publicly criticized the attack on Ukraine.

He is one of the richest entrepreneurs in Russia. The billionaire controls, among other things, the fertilizer manufacturer EuroChem and the coal and energy company SUEK. The US business magazine Forbes estimates his current assets at a good $20 billion.

In hours-long conversations with the British business magazine The Economist and an accompanying guest article, he described in detail for the first time his concerns about the future of Russia and warned of gloomy scenarios.

Warning of escalation and political deadlock

According to Melnichenko’s assessment, Russia has found itself in a situation in which all conceivable developments are dangerous The Economist reported. He sees the danger that the country could collapse into chaos and power struggles.

A growing dependence on China or permanent economic impoverishment on the edge of Europe are also conceivable. Another scenario he mentions is a largely isolated state based on the North Korean model that is permanently in conflict with the outside world.

The entrepreneur is therefore demanding a change of course. Russia must become more predictable externally and win the approval of its own population without relying on coercion. According to the magazine, Melnichenko is not explicitly demanding a change of power. However, his proposals amounted to an end to Russian President Vladimir Putin’s autocracy and a broader distribution of political power.

At the same time, Melnichenko warns Western states not to push Russia into a hopeless situation. Instead of further escalation, a long-term way to live together must be found.

Melnichenko fears the use of nuclear weapons

The Economist refers to reports from Western intelligence services that Russia could intensify its confrontation with NATO. Melnichenko even fears the use of a tactical nuclear weapon to intimidate European supporters of Ukraine. However, Western analysts still consider such a scenario to be unlikely, the magazine reports.