'I was asked to leave Russia': Ruchir Sharma reveals how Putin turned on honest criticism
“The conference organizers turned cold. Something had clearly gone wrong,” Sharma said. The next morning, a call from his boss at Morgan Stanley confirmed it: the Russian press, steered by the Kremlin, had launched a media blitz against him.
- Sep 12, 2025,
- Updated Sep 12, 2025 7:42 AM IST
Ruchir Sharma, Chairman of Rockefeller International and Founder of Breakout Capital, has revealed a rare, unfiltered account of a personal encounter with Vladimir Putin that ended with Russian state media branding him a “party spoiler” — and a hasty exit from Moscow under diplomatic pressure.
Speaking on Nikhil Kamath’s podcast, Sharma recounted his 2010 trip to Russia, where he was invited to speak at a major financial conference hosted by VTB Bank. He was asked to deliver a frank presentation in front of President Putin on how Russia could accelerate its economic development.
“I was told to be honest, and I took that seriously,” Sharma said. He began by praising Putin’s early reforms — including Russia’s introduction of a flat tax and initial efforts to stabilize the economy. But then, he pivoted sharply: pointing out the lack of global Russian brands, the dominance of oligarchs, and the absence of a meaningful mid-sized business sector.
What Sharma didn’t realize was that the entire session was being broadcast live on Russian television. “Putin was there, taking notes, but showed no emotion,” he recalled. While the Russian leader acknowledged a couple of Sharma’s points in his follow-up speech, the mood in the room soured.
“The conference organizers turned cold. Something had clearly gone wrong,” Sharma said. The next morning, a call from his boss at Morgan Stanley confirmed it: the Russian press, steered by the Kremlin, had launched a media blitz against him. “They said Russia didn’t need our money, that I was just spoiling the party.”
Sharma was advised to leave the country immediately — and he did. “That was the last time I set foot in Russia,” he said, adding that the experience changed his outlook on political risk and how leaders evolve with power. “Putin started as a reformer who welcomed capital. But once oil hit $100 a barrel, his tolerance for criticism vanished.”
Ruchir Sharma, Chairman of Rockefeller International and Founder of Breakout Capital, has revealed a rare, unfiltered account of a personal encounter with Vladimir Putin that ended with Russian state media branding him a “party spoiler” — and a hasty exit from Moscow under diplomatic pressure.
Speaking on Nikhil Kamath’s podcast, Sharma recounted his 2010 trip to Russia, where he was invited to speak at a major financial conference hosted by VTB Bank. He was asked to deliver a frank presentation in front of President Putin on how Russia could accelerate its economic development.
“I was told to be honest, and I took that seriously,” Sharma said. He began by praising Putin’s early reforms — including Russia’s introduction of a flat tax and initial efforts to stabilize the economy. But then, he pivoted sharply: pointing out the lack of global Russian brands, the dominance of oligarchs, and the absence of a meaningful mid-sized business sector.
What Sharma didn’t realize was that the entire session was being broadcast live on Russian television. “Putin was there, taking notes, but showed no emotion,” he recalled. While the Russian leader acknowledged a couple of Sharma’s points in his follow-up speech, the mood in the room soured.
“The conference organizers turned cold. Something had clearly gone wrong,” Sharma said. The next morning, a call from his boss at Morgan Stanley confirmed it: the Russian press, steered by the Kremlin, had launched a media blitz against him. “They said Russia didn’t need our money, that I was just spoiling the party.”
Sharma was advised to leave the country immediately — and he did. “That was the last time I set foot in Russia,” he said, adding that the experience changed his outlook on political risk and how leaders evolve with power. “Putin started as a reformer who welcomed capital. But once oil hit $100 a barrel, his tolerance for criticism vanished.”