A Russian oligarch who is said to be close to the administration of President Vladimir Putin says there will be no winner in the war with Ukraine and it should be brought to an end as quickly as possible.

Oleg Deripaska, who founded one of the world's largest aluminum companies, is visiting Japan for an international business meeting. He spoke with NHK on Wednesday in Tokyo.

Deripaska described how Western sanctions on Russia caused aluminum exports to Japan and elsewhere to plunge. He said they're "painful" and a "heavy restriction," and that Russia needs to "find new partners."

But he added that surprisingly, private businesses found their own way, and stressed that sanctions would not lead to a policy change by the Russian government.

Immediately after Russia invaded Ukraine in 2022, Deripaska posted on social media that peace is very important. This was taken as criticism of the Putin administration.

Deripaska told NHK that hundreds of people are dying every day, and there would be no progress on either side.

He added, "There would be no winner in this war. It's obvious."