Putin urges oligarchs to fund war

Russian President Vladimir Putin has reportedly asked leading businessmen to contribute financially to the war in Ukraine.

During a closed-door meeting on March 26, Putin discussed plans to continue the war and made it clear that hostilities will not stop, sources told the outlet. He also urged oligarchs to make what he described as “voluntary contributions” to support the war effort, News.Az reports, citing The Bell.

At least two business figures agreed. Suleiman Kerimov reportedly pledged 100 billion rubles, while another oligarch committed an undisclosed sum. The idea of raising funds from business leaders was said to be backed by Igor Sechin, who proposed issuing military federal loan bonds.

The push for funding comes as Russia’s economy shows mixed signals. While earlier reports pointed to a deepening crisis, recent developments have offered relief.

The United States, under Donald Trump, has eased some oil-related sanctions to stabilize global markets, with suggestions that restrictions could be lifted permanently.

At the same time, Russian oil revenues have rebounded, with Urals crude reportedly trading at a premium in India and income levels returning to early 2022 figures.

Despite these gains, Russia’s 2026 budget remains under pressure, with a significant deficit recorded in the first months of the year.

News.Az 

By Aysel Mammadzada