Putin’s Desperate “Ask” for Oligarch Funds Implies Threat
In an effort to bolster its defense budget for the ongoing invasion of Ukraine, Russian President Vladimir Putin has reportedly appealed to the nation’s oligarchs for financial contributions. This request comes as Russia aims to secure control of the remaining areas in Ukraine’s eastern Donbas region, with at least two businessmen indicating their willingness to donate. Despite Russia’s stated interest in peace talks, key issues including territory remain unresolved, while the Kremlin’s defense spending has significantly increased. Economic measures, such as potential windfall taxes and VAT increases, are being implemented to address budget deficits exacerbated by sanctions and discounted oil sales, even as Putin urges prudence in spending windfall gains from rising global oil prices.
John Q. Hosedrinker