Vladimir Putin has lost trillions of dollars amid the undervaluation of their oil and petroleum products, Ukraine’s Foreign Intelligence Service (FISU) reported.
The Central Bank of the Russian Federation has issued a warning that there will be budget spending cuts if the price of oil and petroleum does not increase.
From 1 January 2026 Russia’s VAT rose from 20% to 22%, and experts are warning that this will lead to an overall increase in prices for the first six months.
Custom fees for imports of certain goods into Russia will also see an increase, and the cost of customs clearance for various goods will also rise for imports.
FISU issued a statement on Sunday, “The Central Bank of the Russian Federation warned of a reduction in budget expenditures if oil prices do not increase. ‘Russia has lost trillions of dollars due to the undervaluation of its oil and petroleum products. said Igor Artemyev, head of the St. Petersburg International Mercantile Exchange.”
On Sunday the Ukrainian President Volodymyr Zelensky imposed sanctions on legal entities and individuals who are linked to Russia’s military industrial complex.
A total of 95 people and around 70 entities which includes electronic warfare, manufacturers of communications and microelectronics and security agencies.
Kyiv has also put in place a full asset freeze and a ban on managing or selling property, the suspension of transit flights and transportation through Ukraine.
The Presidents office said in a statement, “The imposed restrictions are intended to complicate the servicing of Russia’s military-industrial complex and to limit its capacity to produce weapons and military equipment used in the war against Ukraine.”
