Buy the Assange T-shirts - or see WikiLeaks fold

WIKILEAKS could be bankrupt by the end of the year, its founder Julian Assange said yesterday as he revealed that the whistle-blowing website has been forced to stop publishing in order to concentrate on an "aggressive fundraising" campaign that includes selling Assange T-shirts and WikiLeaks wallets and boxer shorts.

Speaking at a press conference in London, Assange explained how a "dangerous, oppressive and undemocratic" financial blockade by banks and credit card companies had deprived WikiLeaks of 95 per cent of its revenue.

Within days of the publication of thousands of sensitive US diplomatic cables in November last year, companies such as Visa, MasterCard and PayPal refused to process any donations to the website. Since then donations have plummeted from a monthly average of €100,000 to an average of €6,000-7,000 during 2011.

Based on this calculation, Assange argues, WikiLeaks has been deprived of between €40m and €50m. He has begun "pre-litigation action" in Britain, Iceland, Denmark, Belgium, the United States and Australia against the blockade. The "vast majority of our staff resources" have been redirected into "knocking down" the blockade, Assange added, in order to keep the site afloat in 2012.

He accused the credit card companies of bowing to political pressure from Washington. "If this financial attack stands unchallenged, a dangerous, oppressive and undemocratic precedent will have been set, the implications of which go far beyond WikiLeaks and its work," he said. "Any organisation that falls foul of powerful finance companies or their political allies can expect similar extrajudicial action."

WikiLeaks was known to be struggling financially and, with the exception of some files on Guantanamo earlier this year, has not published any new exposes since December. But it is the first time that Assange, who is fighting extradition from Britain to Sweden over allegations of sexual misconduct, has spoken publicly about its problems.

The website needs $3.5 million to survive the next 12 months and is trying to raise the money by every means possible, Assange said.

"Unusually for a hi-tech organisation it [WikiLeaks] is now accepting cheques and cash sent in the post as well as donations via more modern means such as by text message."

A new fundraising page on WikiLeaks asks supporters to send donations or buy "revenue-generating gifts", such as WikiLeaks- and Julian Assange-branded T-shirts, pyjamas, mugs and 'dog bandanas'.

The 40-year-old Australian remains on bail pending a ruling on his appeal against extradition to Sweden to answer allegations of rape and sexual assault. Yesterday Assange insisted that the website was not paying his legal fees, and that he was soliciting donations towards his personal legal fees through separate accounts. "WikiLeaks collected monies have never gone to the Swedish case to which I am subject." ·