Because of the war in Ukraine, Russia may run out of money in the next year, Russian oligarch and millionaire Oleg Deripaska, one of the richest men in Russia, warned on Friday.
"It seems like Russia won't have money already next year, and we'll need foreign investors," he said at a economy conference in Siberia.
This statement came in contrast to a statement made by Russian President Vladimir Putin last week in which he said that the economy was proving resilient in the face of sanction place on Russia.
In order to influence Russia to stop the war, Western countries announced more than 11,300 sanctions against Russia since it invaded Ukraine last February.
Putin's statement is brought into question in the face of new data that was published recently that reveals that the European Union's imports from Russia was cut by more than half between February and December.
Furthermore, Russia will be cutting oil production this month which may indicate that it can no longer afford it.
How might Russia find the money it needs?
Russia may still find hope in its allies though. While Western countries have been hitting it with sanctions, China is still buying Russian energy, and Iran is supplying it with drones as well as looking into buying Russian defense systems.