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Putin 'asks oligarchs to donate to budget' as cost of Ukraine war soars
Putin urged oligarchs to support rising defense costs amid a 15.5 trillion rouble budget strain, with Suleiman Kerimov pledging 100 billion roubles, sources said.
- On Thursday, President Vladimir Putin held a closed-door meeting with leading Russian businessmen and asked oligarchs to donate to the state budget to stabilize finances, The Bell and The Financial Times reported.
- Billionaire Suleiman Kerimov reportedly pledged 100 billion roubles at the meeting, while metals magnate Oleg Deripaska also agreed to contribute, though Reuters could not immediately verify the claims.
- Falling energy revenues and an economic slowdown have prompted the government to consider a 10% cut to non-sensitive spending as Russia manages significant financial strain.
- Contrary to reports of financial appeals, the Kremlin denies that Putin requested war funding from businessmen, disputing claims the meeting focused on securing ad hoc contributions.
- Such ad hoc contributions represent an unstable economic fix, potentially altering elite–state funding dynamics as Russia fights a war now in its fifth year.
91 Articles
91 Articles
The news leaks and the Kremlin only partially denies: "Free donations" . Every day with the war 500 million are burned. The conflict in Iran gives oxygen to the tsar, but for how long?
Putin urges oligarchs to fund war as he shifts focus to full control of Donbas
Russian President Vladimir Putin, during a closed-door meeting with prominent business leaders, proposed that they make voluntary contributions to the state budget to support the war effort in Ukraine, reported the Russian news outlet The Bell, citing unnamed sources. Attendees said Putin made his remarks during a sideline discussion at the congress of the Russian Union of Industrialists and Entrepreneurs (RSPP). There, he declared his intentio…
The Russian President calls for more financial commitment from entrepreneurs to reduce the government's budget deficit, and weak growth is affecting the country.
The Kremlin admitted this Friday that at least one oligarch offered to finance the war in Ukraine in a closed meeting with Russian President Vladimir Putin, who...
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