Russian President Vladimir Putin reportedly requested that Russia’s top businessmen provide funding for the Russian government, indicating that the Kremlin may be growing desperate for economic relief and may be setting conditions to nationalize their assets to support the war effort. Russian independent outlet The Bell reported, citing multiple sources familiar with the conversation, that Putin held a closed meeting with Russia’s top businessmen on March 26 in which Putin stated that Russia will continue to fight and called on the businessmen to contribute to the Russian federal budget.[1] Two sources stated that Putin asked for these contributions in the context of Russia continuing the war in Ukraine, implying that the funds will support Russia’s war effort. One source told The Bell that the idea to “shake up business” came from Russian state oil company Rosneft Head Igor Sechin, who reportedly made this proposal and a proposal to issue military bonds as a mechanism for raising funds for Putin on March 25. The Bell reported that Russian Federation Council Senator Suleiman Kerimov immediately pledged 100 billion rubles (about $1.22 billion) to Putin and that another unspecified businessman pledged additional support but did not disclose the amount. Three people familiar with the matter told the Financial Times that Putin had asked during the meeting that top businessmen donate money to stabilize Russia’s finances.[2] Kremlin Spokesperson Dmitry Peskov confirmed that Putin met with Russian businessmen but denied that Putin asked the businessmen for money, that the money is for the war effort, and that the idea came from Sechin.[3] Peskov claimed that one participant discussed the necessity of donating a “very large sum of money” to the Russian state, but emphasized that this is a personal decision.
Ukrainian forces continued their long-range strike campaign against Russian oil infrastructure near the Baltic Sea on the night of March 26 to 27, marking the fourth strike in five days against Russian oil infrastructure in Leningrad Oblast. Geolocated footage published on March 27 shows fires at the Transneft-Port Primorsk oil terminal and Novatek Ust-Luga oil terminal, both in Leningrad Oblast.[12] Ukrainian sources reported that Ukrainian forces struck the port of Ust-Luga and the Primorsk oil terminal overnight.[13] Ukrainian Center for Countering Disinformation Head Lieutenant Andriy Kovalenko, who frequently reports on Russian and Ukrainian strikes, heavily implied on March 27 that Ukrainian forces likely struck the port of Ust-Luga overnight.[14] Leningrad Oblast Governor Aleksandr Drozdenko acknowledged the Ukrainian drone strike on Leningrad Oblast overnight on March 26 to 27, but did not specify any damages.[15] Satellite imagery captured by Vantor on March 27 shows a large fire spanning multiple oil storage tanks and creating dark smoke at the Ust-Luga oil terminal. Additional satellite imagery captured by Planet Labs shows a large smoke plume at the Primorsk oil depot on March 27. Ukrainian forces struck the Kirishi oil refinery in Leningrad Oblast on the night of March 25 to 26 and the ports of Primorsk and Ust-Luga on the nights of March 22 to 23 and 24 to 25.[16] The Ukrainian General staff confirmed on March 27 that Ukrainian strikes on the Kirishi oil refinery in Leningrad Oblast damaged two crude oil refining units, petroleum bitumen producing facilities, hydrotreating units, and gas fractionation units.[17] A Russian milblogger admitted on March 27 that continued Ukrainian strikes on Ust-Luga demonstrate a major vulnerability in Russian air defenses, harshly criticizing Russia’s failure to develop the air defense capability to defend against the recent strikes.[18]
Key Takeaways
- Russian President Vladimir Putin reportedly requested that Russia’s top businessmen provide funding for the Russian government, indicating that the Kremlin may be growing desperate for economic relief and may be setting conditions to nationalize their assets to support the war effort.
- Putin’s reported request for Russian top businessmen to donate money to the Russian state threatens to break a promise he made to Russian oligarchs not to nationalize their assets soon after seizing power.
- Ukraine and Saudi Arabia concluded a defense cooperation agreement on March 27.
- Ukrainian forces continued their long-range strike campaign against Russian oil infrastructure near the Baltic Sea on the night of March 26 to 27, marking the fourth strike in five days against Russian oil infrastructure in Leningrad Oblast.
- Latvia warned on March 27 that Russia launched a cognitive warfare campaign falsely accusing the Baltic states of allowing Ukraine to launch strikes against Russia from the Baltic states’ territories.
- Neither Ukrainian nor Russian forces advanced on March 27.
- Ukrainian forces conducted long-range strikes against the Russian defense industrial base (DIB). Russian forces launched 102 drones against Ukraine.