Kremlin Denies Putin Requested Billionaires to Fund Ukraine War Amid Rising Defense Budget
The Kremlin refuted claims that President Putin asked Russia's wealthy to finance the Ukraine war. Spokesperson Dmitry Peskov stated that a business leader independently offered a large donation, which was not intended for the war. Reports indicated that Putin discussed funding mechanisms with oligarchs during a March meeting, where billionaire Suleiman Kerimov pledged 100 billion rubles. Russia's defense spending surged to 15.5 trillion rubles in 2025, raising concerns over budgetary strains.
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The Kremlin denied reports that President Putin requested contributions from Russia's wealthiest to fund the Ukraine war, with spokesperson Dmitry Peskov stating that any donation was a personal initiative. Billionaire Suleiman Kerimov committed 100 billion rubles at a March meeting, where Putin discussed military funding with oligarchs.
Russia's defense budget surged to 15.5 trillion rubles in 2025, and the government is considering cuts to non-defense spending. The Kremlin appears to be seeking private capital to supplement war financing, with energy revenues declining due to sanctions.
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