Russian media reports claim that Vladimir Putin asked leading business figures to help fund the war in Ukraine during a closed-door meeting, though the Kremlin has denied that any such request was made. According to the reports, discussions included military financing and Russia's intention to continue fighting until it controls the remaining parts of eastern Ukraine's Donbas region. The Kremlin said any offer of financial support came as a personal initiative from an attendee and was not directed by the president.

One report alleged that billionaire Suleiman Kerimov pledged 100 billion roubles to the state, though this could not be independently confirmed. Russia is facing a budget deficit and economic slowdown as the conflict enters its fifth year, but rising oil prices following recent fighting involving the United States and Israel and Iran may provide temporary financial relief. The government is also considering possible cuts to non-sensitive public spending.

Meanwhile, Ukraine is confronting a severe financial strain. Officials warn that government funds may only last until June after Hungary blocked a 90 billion euro loan from the European Union and further international aid has been delayed. With direct support from the United States largely halted, European countries are bearing most of the financial burden, as Ukraine estimates it will require tens of billions of dollars in foreign assistance next year to sustain its war effort and essential services.