Putin Seeks Oligarch Donations for Ukraine War

Russian President Vladimir Putin met with leading businessmen on March 26 in a closed-door session alongside the annual congress of the Russian Union of Industrialists and Entrepreneurs, where discussions reportedly centered on securing financial contributions to support the ongoing war in Ukraine amid mounting economic pressures.

According to multiple reports citing unnamed sources familiar with the meeting, Putin urged oligarchs to make voluntary donations to the state budget, emphasizing Russia's determination to continue military operations until capturing the remaining areas of Ukraine's eastern Donbas region not under its control. The Bell, an independent Russian news outlet, stated that Putin made clear the Kremlin had no intention of halting the fight, with one participant recalling his words as "we will fight... we will go to the borders of Donbas." The Financial Times echoed this, reporting that Putin personally suggested the contributions as a way to stabilize finances strained by soaring defense expenditures.

At least two prominent businessmen agreed to provide funds. Billionaire Suleyman Kerimov, a senator and long-time associate of Putin, pledged 100 billion...