"Putin reportedly held a closed-door meeting with Russian oligarchs, urging them to make financial contributions to support the ongoing Russia-Ukraine War, with at least two billionaires agreeing to contribute."
"Sources indicate that the initiative involves 'voluntary contributions' and potentially military federal loan bonds, proposed by Igor Sechin and personally backed by Putin."
"The meeting underscores the Kremlin's intention to continue hostilities in Ukraine despite increasing economic pressure, as Russia's economy faces its deepest crisis in 20 years."
"The Kremlin's dependence on wealthy oligarchs to finance the war is evident, even as international pressure and sanctions continue to heavily impact Russia's economy."
On March 26, Vladimir Putin held a meeting with Russian oligarchs, urging financial contributions for the Russia-Ukraine War. Billionaires, including Suleiman Kerimov, pledged substantial amounts. The initiative, proposed by Igor Sechin, aims to secure voluntary contributions and military federal loan bonds. Despite economic pressures and a significant budget deficit, the Kremlin intends to continue hostilities in Ukraine. Recent developments, including eased US sanctions and rising oil revenues, have provided some relief to the Kremlin, highlighting its reliance on oligarchs for war financing.
Read at London Business News | Londonlovesbusiness.com
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