![Минобороны РФ](https://turan.az/resized/media/2022/main/052700045965-750-500-resize.webp)
Минобороны РФ
Russia needs huge financial resources for military operation - finance minister
Reuters: Russia needs huge financial resources for its military operation in Ukraine, Finance Minister Anton Siluanov said on Friday, putting the amount of budget stimulus for the economy at 8 trillion roubles ($120 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% and pushed the country to the brink of recession.
"Money, huge resources are needed for the special operation," Siluanov said in a lecture at a Moscow financial university.
President Vladimir Putin this week ordered 10% 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.
The measures would cost the federal budget around 600 billion roubles this year and about 1 trillion roubles in 2023, Siluanov said earlier this week.
On Friday, Siluanov also defended capital controls and asset freezes for foreign investors from "unfriendly" countries that Moscow imposed in response to western sanctions.
"We will keep the investments that were made by foreigners from unfriendly countries in Russia in the same way as they will keep our gold and forex reserves," Siluanov said, referring to the western move to freeze around $300 billion worth of Russia's international reserves it accumulated over years.
Siluanov said restrictions on capital moves for foreign investors could remain in place until either sanctions are lifted or reserves are unfrozen.
($1 = 66.5790 roubles)
-
- Politics
- 27 May 2022 20:07
-
- Photo sessions
- 27 May 2022 22:14
In World
-
Saboteurs attacked France's TGV high-speed train network in coordinated actions that caused chaos on the country's busiest rail lines ahead of the Paris Olympics opening ceremony on Friday.
-
Kamala Harris signaled a major shift on US Gaza policy Thursday, with the presidential hopeful telling Israeli Prime Minister Benjamin Netanyahu to seal a peace deal and insisting she would not be "silent" on the suffering in the Palestinian enclave.
-
The solar system's tiniest planet may be hiding a big secret. Using data from NASA's MESSENGER spacecraft, scientists have determined that a 10-mile-thick diamond mantle may lie beneath the crust of Mercury, the closest planet to the sun.
-
A marine tanker carrying industrial fuel sank in rough seas off the Philippines on Thursday, causing the death of a crew member and an oil spill that could spread to waters off the capital Manila, officials said.
Leave a review