HomeWorld News'Peace is important': Two Russian oligarchs speak out against Russia-Ukraine conflict

'Peace is important': Two Russian oligarchs speak out against Russia-Ukraine conflict

Two of the richest men in Russia Mikhail Fridman and Oleg Deripaska have broken ranks with Kremlin and called for an end of the conflict in Ukraine.

Profile imageBy CNBCTV18.com March 1, 2022, 1:22:28 PM IST (Updated)
'Peace is important': Two Russian oligarchs speak out against Russia-Ukraine conflict

Two Russian oligarchs Mikhail Fridman and Oleg Deripaska have broken ranks with Kremlin and called for an end to the conflict in Ukraine.



Fridman, 57, who was born in western Ukraine, called the ongoing war between Russia and Ukraine a “tragedy for them both”.


One of Russia’s richest men, Fridman controls private equity firm LetterOne and is also the founder of Russia’s largest private lender and fourth-biggest financial services firm Alfa Bank. The Alfa Group, which Fridman chairs, operates primarily in Russia and former Soviet states and has business in the banking, insurance, retail and mineral water sectors. According to the Bloomberg Billionaire's Index, Fridman’s current net worth is $11.4 billion.


Last week, Alfa Bank was hit by sanctions imposed by the US that will prevent it from raising money in America.


In a letter to the staff of LetterOne, Fridman said the war was driving a wedge between the Slav people of Russia and Ukraine who have been brothers for centuries, Reuters reported.


Talking of his Ukrainian roots, Fridman said his parents still reside in Lviv, which he described as his favourite city. He also confessed that he lived much of his life as a citizen of Russia, building and growing businesses and was deeply attached to the people of both countries.


"While a solution seems frighteningly far off, I can only join those whose fervent desire is for the bloodshed to end," he said in the letter that was first viewed and reported by Financial Times.


Another Russian billionaire Oleg Deripaska, who made his fortune in the aluminum business, echoed Fridman's call for peace.


"Peace is very important!” Deripaska said in a post on messaging app Telegram on Sunday, hoping that negotiations would start as soon as possible.


Born in Soviet Russia, Deripaska, 54, founded Russian aluminium giant Rusal. He still holds a stake in the behemoth through shares in its London-listed parent company EN+ Group.


After the collapse of the Soviet Union, Deripaska made a massive fortune from the chaotic scramble for assets. According to Forbes, Deripask’s current net worth is $3.9 billion.


He has been on the US sanctions list since 2018 for his alleged links with Russian President Vladimir Putin, which he has challenged in court. On February 21, Deripaska had said there would not be a war between Russia and Ukraine.


Read Also | BP to exit Russia oil giant Rosneft at cost of $25 billion over Ukraine invasion

Read Also | The Oligarchs: Here are Russia’s five richest individuals


Follow Russia-Ukraine war latest updates on CNBCTV18.com's blog
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Tags