"Putin is pressing ahead with the invasion after Ukraine refused to withdraw unilaterally from Donbas during recent negotiations brokered by the US."
"The Kremlin's defense bill has increased by 42% to reach Rbs13.1tn last year, and it has sought to stabilize its economy through taxation."
"Russia's budget deficit for January and February swelled to more than 90% of the figure projected for the whole year as US sanctions forced Moscow to sell oil at significantly discounted prices."
Putin has requested donations from Russian oligarchs to support the defense budget for the ongoing invasion of Ukraine. The conflict, which began in February 2022, is expected to continue until Russia secures the remaining areas of the Donbas region. Some businessmen have expressed willingness to contribute. The Kremlin's defense spending has surged by 42%, and the economy is facing challenges due to sanctions and a budget deficit. Russia is also considering a new windfall tax to stabilize its economy amid fluctuating oil prices.
Read at www.theguardian.com
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