Vladimir Putin is requesting financial contributions from Russia's wealthiest individuals to support the ongoing war in Ukraine, aiming to capture the remaining areas of the Donbas region. This effort, amidst rising defense costs and budget pressures, includes voluntary contributions from businessmen and potential budget cuts, with the government monitoring oil price fluctuations.
Vladimir Putin is seeking handouts from Russia’s ultra-wealthy in order to help fund the war in Ukraine, according to reports.that Putin wants more money so he can keep fighting until Russia captures the remaining areas of Ukraine’s eastern Donbas region that it has not already seized.
Putin’s appeal for cash suggests he intends to press on with the invasion regardless of its crippling effect on the Kremlin’s budget. The war has seen Russia’s defense costs soar to an estimated 15.5 trillion rubles in 2025, up from an estimated 9.1 trillion rubles . Metals magnate Oleg Deripaska, believed to be worth more than $7 billion, also agreed to contribute. Both Kerimov and Deripaska have been sanctioned by the U.S. and Ukraine.reported that the Russian government is preparing a possible 10 percent cut to all “non-sensitive” spending in this year’s budget as the cost of invading Ukraine continues to balloon. Russia is also keeping an eye on the oil price rises triggered by the U.S.-Israel war in Iran, and any decision on budget cuts will depend on the sustainability of those increases. “The president said he hopes the crisis will be resolved in the coming weeks, probably three to four weeks,” Alexander Shokhin, president of the Russian Union of Industrialists and Entrepreneurs lobby group, said, via The Bell.
Vladimir Putin Ukraine War Russian Economy Oligarchs Financial Aid
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