Putin asks oligarchs to donate to Russia’s dwindling defence budget
The Guardian • • general
Key Points:
- Vladimir Putin has requested donations from Russia’s oligarchs to support the country’s shrinking defence budget amid its ongoing invasion of Ukraine, aiming to secure the remaining areas of the Donbas region.
- Talks with at least two businessmen indicate willingness to contribute financially, while Russia plans further negotiations with the US on peace talks, though key territorial issues remain unresolved.
- Russia’s defence spending rose by 42% last year to Rbs13.1tn (£121bn), with the government considering additional windfall taxes and having already increased VAT to stabilize the economy under sanctions pressure.
- Putin urged caution in managing windfall gains from rising oil prices, warning against reckless spending or dividend payouts due to volatile market conditions.
- Ukrainian President Volodymyr Zelenskyy criticized US security guarantee proposals for peace as contingent on Kyiv ceding Donbas, emphasizing the region’s importance to Ukraine’s security.
