Putin asks oligarchs for billions for war in Ukraine

Russian President Vladimir Putin has asked leading oligarchs to contribute financially to the state budget as the costs of the war in Ukraine continue to rise, according to media reports.

The meeting was held behind closed doors and focused on financing the military and the future course of the conflict. According to The Bell and the Financial Times, Putin indicated that Russia would continue fighting until it regains control of the remainder of the Donbas.

The country faces both declining revenues from the energy sector and a slowing economy, resulting in lower tax intake. The government is therefore also preparing for possible spending cuts.

One specific commitment comes from billionaire Suleiman Kerimov, who has reportedly pledged around 100 billion roubles.

The report, however, has not been independently verified.

(reuters, pir)