Russia's richest man, Oleg Deripaska, has said he is convinced Vladimir Putin will remain fully in charge of Russia until 2020, even though he is stepping down as president on May 7.

The media-shy business mogul, with interests stretching from metals and oil to airports and cement, also said that the West should stop fearing Russia.

"I see no political risks (after May 7). Living in Russia makes me confident," he said in a rare chat with journalists in one of Moscow's top restaurants, the Cafe Pushkin. His comments on Friday were embargoed for publication on Sunday.

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Dmitry Medvedev, Putin's chosen successor who won the March presidential election with a landslide, will be sworn in on May 7 but the hugely popular Putin has vowed to be prime minister.

Medvedev has pledged loyalty to his political mentor and promised to implement "the Putin plan," a set of goals to make Russia a developed country by 2020.

"His (Medvedev's) role is important. But you need to understand -- it's a big challenge to take responsibility. As I understand Putin accepted this responsibility to develop 2020 goals," said Deripaska, who spoke English for most of the interview.

Valued by Forbes magazine at $28.6 billion -- though he says that is exaggerated -- Deripaska was considered one of the oligarchs closest to Putin's forerunner as president, Boris Yeltsin, in the 1990s.

Now 40, he started his fortune in aluminum, a business known for violent battles in the 1990s. His former business partners have filed many suits against him alleging illegal business tactics but had no success.

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