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Vladimir Putin has asked oligarchs to contribute to Russia’s budget to stabilize the country’s finances as he continues the war in Ukraine, according to Russian media.
The Russian President held a closed-door meeting with leading businessmen on Thursday, Bell online outlets reported.
Mr Putin discussed military funding and the continuation of the war, Bell wrote, citing unnamed sources.
The war has been going on for five years since then RussiaThe massive invasion carried out in February 2022 has caused the country’s defense costs to soar to 15.5 trillion rubles (£144 billion) by 2025.
Russia faces a decline in budget revenues from energy sales and an economic slowdown. This affects tax revenues from other sectors of the economy.
The Russian government is said to be considering a possible 10% cut to all “non-sensitive” spending in the 2026 budget, with the final decision depending on the sustainability of oil price increases triggered by the economic crisis. Iran war.
But the oligarchs can now provide a much-needed budget boost.
During a meeting with Putin, billionaire Suleiman Kerimov promised to donate 100 billion rubles (£922 million), according to The Bell.
Oleg Deripaska, a metals magnate, also agreed to contribute when asked by the Russian leader, the Financial Times reported, citing three people familiar with the matter.
Oligarch Oleg Deripaska is also said to have donated. File photo: Reuters
Kremlin spokesman Dmitry Peskov said in a briefing with journalists that while Putin welcomed the idea of business contributions to his country, it was “not his initiative.”
One of the businessmen at the meeting decided to donate a large amount of money to the state, Peskov said. The Kremlin declined to reveal the man’s name. “It was his family’s decision,” Peskov said.
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Putin reportedly said Russia would keep fighting until it succeeds in capturing the remaining territory in Ukraine’s eastern Donbas region, which is not currently under its control.
