Russia’s 2026 budget deficit may reach $100 billion – Zelenskyy
Ukrainian President Volodymyr Zelenskyy said that sanctions targeting Russia’s oil industry could push the Kremlin’s budget deficit next year to as much as $100 billion.
Censor.NET reported this, citing Interfax-Ukraine.
"It is very important that various institutions, companies, assets, and oil refineries located within the European Union also stop operating. We understand that this could lead to a budget deficit of up to $100 billion for Russia next year, according to different analytical estimates," Zelenskyy said at a briefing on Friday.
Earlier, Zelenskyy said the country would recalibrate its communication with partners to prepare new sanctions against Russia, based on detailed intelligence assessments of the effectiveness of existing restrictions.
According to Zelenskyy, consistent pressure on Moscow could result in losses of at least $50 billion a year for Russian oil companies under the latest sanctions.
Background
- On October 23, the U.S. Department of the Treasury announced sanctions against major Russian oil companies — Rosneft and Lukoil. The additional restrictions were imposed due to Russia’s continued lack of genuine readiness to engage in a peace process aimed at ending the war in Ukraine.
- On October 24, reports emerged that Kirill Dmitriev, a special envoy of the Russian dictator, had arrived in the United States for official talks.
