Russia is likely expecting financial assistance from "friendly" nations, including the purchase of its state debt, the U.K. Defense Ministry wrote in its April 5 intelligence update.
Russian Prime Minister Mikhail Mishustin stated on March 28 that plans to issue some of Russia's state debt in foreign currencies were "under development."
According to the U.K. Defense Ministry, it has primarily been Russian banks purchasing the debt in recent months, but it is unlikely they will have the capacity to continue doing so for the long term.
Countries that purchase Russia's sovereign debt would be indirectly financing the war in Ukraine, the ministry added.
The latest intelligence update coincides with reports that Russian officials are pushing for a "forever war" and would hence require financial support to prolong its war in Ukraine.
Katie Marie Davies
