Russian billionaire Kerimov pledges $1.2 billion for Ukraine war effort
Russian billionaire Suleiman Kerimov has pledged ₽100 billion ($1.2 billion) to support Russia's war in Ukraine. The announcement came after President Vladimir Putin urged major businesses to contribute financially during a private meeting. Kerimov, a senator from Dagestan, ranks among Russia's wealthiest individuals and remains under Western sanctions.
Putin held a closed-door session with leading business figures to secure funding for the ongoing invasion. Among the attendees was Kerimov, who quickly committed ₽100 billion to the state budget. His pledge followed Putin's call for economic backing as Russia pushes to seize the remaining parts of Ukraine's Donbas region.
Kerimov's fortune stands at nearly $26 billion, placing him fifth in Russia and 99th globally in 2026. His wealth surged by $9.3 billion in a year, partly due to his stakes in banking, energy, and gold—especially Polyus, Russia's largest gold producer and a top-five global player. However, his son Saida faced sanctions in 2022, forcing the sale of his 76.3% share in Polyus. Despite his financial influence, Kerimov has been under US sanctions since 2026, with the EU and UK also freezing around $2.5 billion of his assets. The meeting also covered broader topics like AI regulation, the platform economy, and protecting entrepreneurs' rights.
Kerimov's contribution marks one of the first major financial responses to Putin's appeal. The funds will directly support Russia's military efforts in Ukraine. Meanwhile, his business empire continues to operate under international restrictions, with no signs of sanctions being lifted.
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