Putin Demands Oligarch Cash and Digs In for Long War as Ukraine Fight Drains Russia

Putin Demands Oligarch Cash and Digs In for Long War as Ukraine Fight Drains Russia Facing severe financial strain from its prolonged invasion of Ukraine, the Kremlin is turning to Russia's wealthiest citizens for direct funding while signaling a commitment to fight indefinitely, according to multiple reports and analyses. Russian President Vladimir Putin has personally asked the country's oligarchs for donations to support the military budget, a move highlighting the growing pressure on state finances [112938]. This request comes as Russia's defense spending surged by 42% last year, widening the budget deficit [112938]. Analysts observing the diplomatic front report a firm, unchanged stance from the Russian leadership, suggesting a strategy built for a prolonged conflict despite the economic difficulty [17910]. An expert on U.S.-Europe relations stated that Russia, believing it holds a strong battlefield position, feels no urgency to negotiate a peace deal [17045]. This resolve was underscored by Putin himself, who declared that Moscow's goals in Ukraine would be achieved "through diplomatic negotiations or continued military force," positioning talks as a tool to secure gains rather than a path to compromise [28790]. U.S. intelligence assessments support this, indicating Putin's ultimate aim extends beyond Ukraine to reclaiming influence over former Soviet states, pointing to a long-term campaign [31282]. Financially, the war effort is taking a toll. To stabilize the economy, the Russian government has raised taxes, including a recent increase in value-added tax, or VAT [112938]. Sanctions have also forced Russia to sell oil at large discounts, reducing state income [112938]. In a meeting with officials, Putin advised a "moderately conservative approach" to spending any extra revenue from global oil prices [112938]. On the ground, Ukrainian President Volodymyr Zelenskyy reported that Russia is using better weather to intensify its attacks, though he claimed Russian army losses have increased even more [108784]. The Russian defense ministry announced the capture of a small village in Ukraine's northern Sumy region [108784]. Internationally, Russia is pursuing a dual-track strategy, analysts say. To European leaders, Russian messages remain aggressive, blaming the West for the conflict, while simultaneously asking the United States to remove "illegal" sanctions and resume trade talks [82150]. Putin has also engaged in a diplomatic surge, holding high-level meetings with the leaders of Turkey and Iran to discuss Ukraine and strengthen regional partnerships [24521]. Putin Seeks Oligarch Donations to Fund War as Defence Budget Strains Putin Signals Long War in Ukraine Amid Economic Strain Russia Holds Advantage, In No Rush on Ukraine Deal, Expert Says Putin: Russia Will Take Ukraine by "Force or Diplomacy" U.S. Intelligence: Putin's Goal is "Former Soviet Empire" Russia Intensifies Attacks as US-Ukraine Peace Talks End Russia's Dual Strategy: Talk War with Europe, Talk Trade with America Putin's Diplomatic Surge: Talks with Turkey, Iran Focus on Ukraine and Regional Crises