The Kremlin has denied reports that President Vladimir Putin asked leading Russian businessmen to contribute funds to support the country’s war effort in Ukraine, pushing back against claims made by independent media outlets.
Kremlin spokesman Dmitry Peskov said Friday that reports suggesting Putin requested financial assistance from business elites during a closed-door meeting were “not true.” The meeting, held on Thursday, reportedly brought together some of Russia’s most influential corporate figures amid ongoing economic pressure linked to the prolonged conflict.
Anonymous Donation
However, Peskov acknowledged that one unnamed participant voluntarily offered to donate a “very large sum” to the state. According to him, the gesture was framed as a personal initiative, reflecting a sense of obligation among business leaders whose fortunes were tied to state structures during the post-Soviet transition of the 1990s.
Independent outlet The Bell reported that billionaire Suleiman Kerimov pledged as much as 100 billion roubles (approximately $1.23 billion) during the meeting. Reuters said it could not independently verify the claim or reach Kerimov for comment.
The Kremlin further rejected suggestions that any such funds would be directed toward military operations. Peskov insisted there was no official request tied to financing the war, even as Russia continues its campaign in Ukraine, now entering its fifth year.
The reports come at a time when Russia faces mounting fiscal strain, with a widening budget deficit and slowing economic growth. Nonetheless, rising global oil prices—partly driven by escalating tensions following a U.S.-Israel conflict with Iran—could provide a temporary boost to state revenues.
Sources previously told Reuters that the Russian government is weighing potential cuts of up to 10% in non-sensitive budget expenditures, though final decisions remain contingent on the durability of oil market gains.
