Russian Budget Could Face $100 Billion Deficit Due to Sanctions – Zelenskyy

Ukrainian President Volodymyr Zelenskyy has stated that Russia's budget deficit for 2026 could reach $100 billion due to sanctions targeting the country's oil industry.

The Gaze reports on this, referring to Interfax-Ukraine.

According to the President, blocking the work of various institutions, companies, and oil refineries in the EU could significantly weaken Moscow's financial revenues.

Zelenskyy said that since the beginning of 2025, Ukraine has synchronized 11 sanction packages with its partners, six of which are with Europe, and that this process will be completed next month. 

It is expected that U.S. sanctions against Russia are expected to take effect around November 20, 2025.

In addition, the Ukrainian leader reported that Russia is counting on a budget of $210 billion for next year, as well as an increase in the production of FPV drones and UAVs. However, they have limited capabilities to do so. 

“We do not see any increase. We do not see any possibility right now. Not only because of money, but also because of the sanctioning of enterprises,” Zelenskyy said. 

He also noted that 610 tankers of Russia's “shadow fleet” have already been sanctioned. However, another 340 vessels, 65 of which are key, need to be blocked additionally. Zelenskyy emphasized that the main partners that have reduced or completely stopped importing Russian oil are Canada, Australia, the United Kingdom, and EU countries.

"Take China, for example, which imported 120 billion. Imagine, the US is imposing sanctions, the reduction will be 50, and China's imports alone are 120 billion. They are the biggest player, an ally in this war, that's a fact," the President stressed.

As The Gaze reported earlier, according to the Head of the Security Service of Ukraine (SSU), Andriy Malyuk, the Defense Forces of Ukraine destroyed one of three “Oreshniks” on Russian territory in the summer of 2023.