Russian President Vladimir Putin reportedly asked oligarchs to donate to the strained national budget as the cost of the Ukraine war soared.
Moscow has seen a recent boost in revenues as the Iran war drove up oil prices, but Ukrainian attacks on its export and refinery infrastructure have limited those gains, and the Kremlin’s defense bill rose 42% last year, the Financial Times noted; its budget deficit for January and February was more than 90% of its projected whole-year figure.
Kyiv, meanwhile, is seeking to strengthen its hand in the war as a result of the Middle East conflict: Ukraine’s president signed a defense cooperation deal with Saudi Arabia on a surprise visit to the kingdom this week.