Russia’s $462 Billion Military Spending: Wasteful War or Existential Threat?
A new IISS report reveals that Russia’s 2023 defense spending, at $462 billion, surpassed the combined total of all European nations ($457 billion), a 42% increase for Russia. This increase, projected to continue at 13.7% in 2024, raises concerns about European security, especially if US support for Ukraine diminishes. While some European nations, notably Germany and the UK, increased spending, achieving targets like 3% or 5% of GDP for defense would necessitate massive budget increases and is not currently guaranteed. Russia’s sustained military spending, despite economic strain, underscores the significant security challenge it poses to Europe.
John Q. Hosedrinker