Camilla Jessen
Russia urged to ‘mobilize’ workforce amid crisis fears.
Oleg Deripaska, one of Russia’s wealthiest businessmen, has called on citizens to adopt a six-day workweek with extended daily hours.
Writing publicly, he suggested a schedule running from 8 a.m. to 8 p.m., including Saturdays, as a way to strengthen the economy.
“We don’t have many resources. More precisely, we only have one,” Deripaska said, referring to the workforce. He added that in difficult times, people must “mobilize and work harder.”
Push for longer hours
Deripaska argued that increasing working hours could help Russia adapt more quickly to changing global conditions.
“And the sooner we switch to this new schedule – from 8 to 20, including Saturdays – the sooner we will go through this transformation,” he said.
He described the current economic situation as more severe than previous downturns, calling it a “harsh transformation” rather than a typical financial crisis.
Broader economic concerns
The billionaire has previously warned about external pressures on Russia’s economy, including global conflicts and shifting markets.
He said tensions in the Middle East, particularly involving Iran, could negatively affect Russia despite potentially boosting prices for oil and gas.
According to Deripaska, higher energy prices may slow global growth, which would in turn impact Russia.
Policy suggestions
In earlier comments, Deripaska proposed measures such as weakening the ruble to 105 per US dollar and lowering interest rates to 6 percent to support economic activity.
He also criticised past monetary policy, arguing that a strong ruble had reduced the competitiveness of Russian exports.
Estimates he cited suggested that high interest rates and currency strength had cost the federal budget trillions of rubles.
Sources: Statements by Oleg Deripaska, Digi24
