general
Putin asks oligarchs to help fund war as he pushes to seize Donbas
At a closed session after his speech to Russia’s industrialists, Vladimir Putin urged select billionaire businessmen to make voluntary contributions to the state budget to support the war in Ukraine as he pushed to secure the Donbas.
Mar 27th 2026 · Russian Federation
Insights
- It was the first reported direct request by Putin for oligarch funding to cover military budget shortfalls.
- He reiterated a determination to capture Ukraine’s entire Donbas region during a closed session after the Union of Industrialists and Entrepreneurs congress.
- Suleyman Kerimov pledged 100 billion rubles and Oleg Deripaska signalled readiness to donate, according to reports.
- The proposal was reportedly advanced by Rosneft CEO Igor Sechin.
- The request reflects mounting pressure on Russia’s military finances after years of Western sanctions and rising budget gaps.
Sources
- Putin asks oligarchs to donate to budget as cost of Ukraine war soars www.ft.com
- Putin asks oligarchs to donate to Russia’s dwindling defence budget www.theguardian.com
- Putin asks oligarchs to bridge military funding gap as he makes final push for Donbas novayagazeta.eu
- Putin denies asking business leaders to finance the war in Ukraine www.politico.eu
- Russia denies Putin asked oligarchs to fund war, calls contribution 'personal decision' kyivindependent.com