Opposition coverage portrays Putin’s appeal to billionaires for “voluntary contributions” as de facto forced war taxes, conceived by insiders like Igor Sechin and imposed under implicit threats rather than true choice. It argues this move further binds oligarchs to an illegitimate, escalating war in Donbas and signals a more predatory, ad hoc use of state power over private wealth.

Putin recently held a closed-door meeting in Moscow with leading Russian businessmen, including at least 10 billionaires gathered under the umbrella of the Russian Union of Industrialists and Entrepreneurs, where he raised the idea of large “voluntary contributions” from major business to the state budget. Both government and opposition-leaning accounts agree that the purpose of these payments is to help finance what the Kremlin continues to call the “special military operation” in Ukraine, that the Kremlin has publicly confirmed the existence of such a proposal through spokesperson Dmitry Peskov, and that some high-profile figures such as Suleiman Kerimov and Oleg Deripaska have reportedly indicated a willingness to contribute. There is also broad agreement that this was the first time Putin so directly and explicitly appealed to big business for war-related funding, that not all top oligarchs were visibly present, and that the contributions are formally framed as voluntary rather than mandated taxes or levies.

Coverage from both sides also converges on basic context: the request comes at a time when the Russian state is under growing fiscal and sanctions pressure from the prolonged war, and when the business elite is already grappling with asset freezes, capital controls, and reputational risk abroad. Both government and opposition sources acknowledge the central role of powerful state-linked corporations and energy interests in shaping wartime economic policy, and they situate the proposal within a broader pattern of the Kremlin seeking to mobilize domestic financial resources to sustain and expand military operations in eastern Ukraine, particularly around Donbas. They further agree that this move ties big business more tightly to the state’s wartime agenda and that it reflects the Kremlin’s expectation that the wealthiest should shoulder more of the material burden as the conflict extends into the medium term.

Areas of disagreement

Nature of the contributions. Government-aligned narratives tend to describe the proposed payments as patriotic, genuinely voluntary support from loyal business leaders who recognize their responsibility to help the country during a difficult period. Opposition outlets instead portray the same “voluntary contributions” as thinly veiled coercion, likening them to informal war taxes extracted under political pressure and fear of state retaliation. While government-facing coverage emphasizes continuity with past partnerships between the Kremlin and big business, critical media frame this as a new, more aggressive phase of asset reallocation under wartime conditions.

Legitimacy of the war aims. Government sources, where they mention it, treat Putin’s statement that Russia will fight “to the borders of Donbas” as a firm but reasonable strategic objective that justifies extra financial mobilization from elites. Opposition outlets spotlight this remark as proof of an open-ended, escalatory war strategy that will keep draining resources and lives, and they argue that oligarch contributions effectively make tycoons direct sponsors of a controversial and costly campaign. In government messaging, funding the operation is a necessary defense measure, whereas opposition coverage casts it as complicity in an unjust war.

Implications for the business elite. Government-leaning coverage tends to stress stability, suggesting that contributions will help preserve the business environment, maintain state support, and protect key companies and sectors amid sanctions. Opposition media instead highlight the risks to oligarchs, suggesting they are being drawn deeper into dependence on the Kremlin, making them more vulnerable to future asset seizures, ad hoc levies, and criminal prosecutions if they refuse or fall out of favor. Where officials describe a partnership between state and business, critics characterize a tightening system of hostage-style relations, in which wealth buys only conditional safety.

Public framing and domestic politics. Government-aligned accounts frame the initiative as evidence of national unity and social solidarity, with wealthy patriots stepping up alongside ordinary citizens and soldiers to share the burden of war. Opposition sources argue that this narrative is largely for show, contending that the public is not being given transparent information about the sums involved, the mechanisms of collection, or the real budgetary pressures driving the move. While state-linked media hint that such contributions could preempt harsher general taxation, critical outlets warn that ordinary Russians may still face additional tax and inflationary burdens even as oligarchs negotiate special deals behind closed doors.

In summary, government coverage tends to present the oligarchs’ “voluntary contributions” as patriotic cooperation that stabilizes the economy and supports legitimate war aims, while opposition coverage tends to depict them as coerced war financing that deepens elite dependence on the Kremlin and entrenches a costly, open-ended conflict.

Story coverage

opposition

At least 10 billionaires were present at the RSPP this year

At a closed meeting between Vladimir Putin and the Russian Union of Industrialists and Entrepreneurs (RSPP), almost all major oligarchs were likely present. However, at least three businessmen may have skipped the event, 'Novaya-Evropa' found by comparing information from open sources. The content of closed meetings with Putin is usually not disclosed, and the list of participants has been classified since 2022. The Bell, citing sources, wrote that Oleg Deripaska and Suleiman Kerimov were among those present – they agreed to allocate funding for the war in Ukraine. 'Novaya-Evropa' compared broadcast footage and found that at least 10 billionaires (besides Deripaska and Kerimov) attended the open part of the meeting: Mikhail Gutseriev, Viktor Vekselberg, Alexey Mordashov, Dmitry Mazepin, Vladimir Potanin, Andrey Bokarev, Andrey Melnichenko, and Igor Zyuzin. In addition, heads of state-owned companies Mikhail Oseevsky (Rostelecom) and Andrey Kostin (VTB) were in the hall. At the same time, other major business representatives were not noticed at the event. For example, 'Novaya-Evropa' found no information that German Khan, Leonid Mikhelson, and Dmitry Pumpyansky were at the RSPP this year. According to the head of the RSPP, Alexander Shokhin, the closed meeting lasted two hours. Later, presidential press secretary Dmitry Peskov confirmed that one of the participants indeed intended to allocate money, but did not name him. RSPP meetings are held annually. As the Financial Times notes, Putin directly addressed business participants for the first time with a request to allocate money for waging war.

9 days ago

opposition

Putin told major businesses that the Russian Federation will continue to fight "to the borders of Donbas." And he proposed that oligarchs voluntarily chip in for the "special military operation" - The Bell

After the congress of the Russian Union of Industrialists and Entrepreneurs (RSPP), Vladimir Putin held a closed meeting with major businessmen. There, he discussed with the oligarchs the continuation of the war and its financing. This was reported by two sources of The Bell. "They said we will fight," one of the publication's interlocutors paraphrased the essence of Putin's speech. "We will go to the borders of Donbas," added another. After that, Putin proposed that businessmen make voluntary contributions to the budget, both claim. Some oligarchs responded to the request right at the meeting: Suleiman Kerimov promised to contribute 100 billion rubles. According to a source from The Bell, the idea to "shake up business in a difficult time for the country" belongs to the head of Rosneft, Igor Sechin. He had previously outlined it to Putin in a letter.

10 days ago

opposition

Kremlin Confirms Idea of Oligarchs' Voluntary Contributions to 'SMO'

Kremlin representative Dmitry Peskov commented on information that Vladimir Putin, at a meeting with major businessmen, proposed they make voluntary contributions to the budget to help finance the war in Ukraine. "One of the participants in the meeting did indeed speak about the fact that for the state, he considers it necessary to allocate a certain large, very large sum of money, and this was his family's decision," RBC quoted Peskov as saying. The Kremlin representative did not specify who exactly owns this idea. He added that Putin welcomed such an initiative. The day before, two sources told The Bell that after the congress of the Russian Union of Industrialists and Entrepreneurs (RSPP), Putin held a closed meeting with major businessmen. The continuation of the war in Ukraine and its financing were discussed there. "They said, we will fight," one of the publication's interlocutors paraphrased the essence of Putin's speech. "We will go to the borders of Donbas," another added. After this, Putin proposed that businessmen make voluntary contributions to the budget, both claim. Some oligarchs responded to the request right at the meeting: Suleiman Kerimov promised to contribute 100 billion rubles. According to the Financial Times, Oleg Deripaska also expressed his readiness to make such donations. According to a source at The Bell, the idea to "shake up business in a difficult time for the country" belongs to the head of Rosneft, Igor Sechin. He previously presented it to Putin in a letter. As the Financial Times notes, this is the first time that Russian business will finance the war directly. Before that, the Kremlin preferred to raise taxes. In particular, from January 1, VAT in Russia increased from 20 to 22%.

9 days ago