World
Russia is raising taxes to pay for the war in Ukraine
The Russian government plans to collect more money from people and businesses to keep up with the high costs of fighting.
A pile of Russian ruble banknotes sitting on a table.
By John Doe
Reporting from Russia 
Sept. 25, 2026, 8:55 a.m. - 13 hours ago
The Russian government is preparing to hike taxes. This is happening because they need more money to pay for the war in Ukraine.
New plans from the country's Finance Ministry show what the budget might look like in 2027. It includes several tax increases. The goal is to fill the hole in the budget caused by heavy military spending.
Experts say these changes will likely stay in place for several years, at least through 2029. The plan includes taxing interest that people earn on their savings in bank accounts.
While the government is looking to take in more money, they are also trying to keep some parts of the economy running. The Russian central bank says it is ready to make it easier for companies to get loans. They specifically want to help businesses that are building defenses against drones.
In short, the country is shifting more of its money toward the military. To do this, the government is asking its citizens and businesses to pay more into the system.
Source: Financial Times
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