Russia's military spending exceeds the combined defense budgets of all of Europe. Overall, the Kremlin's military spending increased by more than 40 percent in 2024.
Points of attention
- Russia's military spending exceeds the total defense budgets of Europe, indicating the country's high level of military activity.
- According to the International Institute for Strategic Studies, Russia's military spending increased by 42% in 2024, reaching 13.1 trillion rubles, equivalent to $462 billion.
- Russia's defense spending is projected to further increase by 13.7%, indicating high military tension in the region.
The Russian economy is working for war against Ukraine
Military spending in Russia, whose economy has been put on a military footing by Russian dictator Vladimir Putin, now exceeds all of Europe's defense budgets combined.
Total Russian defense spending rose by 42 percent last year, now standing at 13.1 trillion rubles, the equivalent of $462 billion.
By comparison, European defense budgets, including the UK and EU member states, grew by almost 12% last year to $457 billion, slightly less than Moscow's spending.
This data was published by the analytical center International Institute for Strategic Studies (IISS).
The publication noted that the "military balance," an annual assessment of global military capabilities and defense spending, highlights some of the security challenges Europe will face if the United States reduces its support for Ukraine and European defense.
At the same time, according to the publication, US President Donald Trump, who has promised to quickly end Russia's war against Ukraine, said that his administration had held "very serious" talks with Moscow, and complained that the US was spending too much on the conflict and European security in general.
According to ISID forecasts, this year, total Russian defense spending — including so-called voluntary payments by regional authorities and companies — will increase by another 13.7 percent to reach 15.6 trillion rubles, equivalent to 7.5 percent of GDP or almost 40 percent of Russian federal spending.
The IMIS noted that despite the sanctions pressure on the Russian Federation, Moscow can still bear the costs of the war.
