Putin Appeals to Oligarchs for War Funding Amid Economic Strain

• •Putin has directly asked oligarchs for financial support for the military budget.
• •Suleiman Kerimov and Oleg Deripaska are among those willing to contribute substantial funds.
• •The Russian economy is under strain, with 83.3% of businesses expecting worsening conditions.

On March 26, 2026, Russian President Vladimir Putin requested financial contributions from oligarchs to support the country's defense budget as Russia continues its invasion of Ukraine. This marks the first direct appeal from Putin for funds to aid military efforts, reflecting the Kremlin's financial strain amid rising military expenditures and a growing budget deficit. Business leaders, including Suleiman Kerimov and Oleg Deripaska, expressed willingness to contribute significant amounts, with Kerimov reportedly offering 100 billion rubles (approximately $1.2 billion). Despite this, the Russian economy faces challenges, including high interest rates and a pessimistic outlook from businesses, with 83.3% predicting worsening conditions. The Kremlin has also indicated plans for further taxation and budget adjustments in response to economic pressures. Meanwhile, Ukraine's President Volodymyr Zelenskyy has warned that the ongoing conflict may be exacerbated by lifted sanctions. The situation remains fluid as Russia prepares for future peace talks with the US.