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Russia needs huge financial resources for military operation: Finance minister

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MOSCOW — Russia needs huge financial resources for its military operation in Ukraine, finance minister Anton Siluanov said on Friday (June 27), putting the amount of budget stimulus for the economy at eight trillion roubles (S$162 billion).

Russia sent tens of thousands of troops into Ukraine on Feb 24, which prompted the West to impose sanctions against Moscow that have already fanned inflation to near 18 per cent and pushed the country to the brink of recession.

President Vladimir Putin this week ordered 10 per cent rises in pensions and the minimum wage to cushion Russians from inflation, but denied the economic problems were all linked to what Russia calls"a special military operation" in Ukraine. On Friday, Mr Siluanov also defended capital controls and asset freezes for foreign investors from"unfriendly" countries that Moscow imposed in response to western sanctions.

 

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Russia needs huge financial resources for military operation: Finance ministerRussia needs huge financial resources for its military operation in Ukraine, Finance Minister Anton Siluanov said on Friday (May 27), putting the amount of budget stimulus for the economy at 8 trillion roubles (US$120 billion). Russia sent tens of thousands of troops into Ukraine on Feb 24, which prom
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