Russia Proposes VAT Hike to Fund Military in Ukraine Conflict
Published on: Sept. 24, 2025, 2:08 p.m. | Source: Devdiscourse
Russia's finance ministry proposes raising VAT from 20% to 22% by 2026 to fund military spending amidst ongoing war in Ukraine. The increase aims to boost defense and security funding, potentially generating additional $11.9 billion in revenue. The U.S. criticizes Russia's economic strategy as tensions continue.
