02 Dec 2024 (Press Ki Taquat Bureau):
Russian President Vladimir Putin has sanctioned an unprecedented defense budget, designating an astonishing one-third of the government’s overall expenditure as the conflict in Ukraine continues to deplete resources for both nations nearly three years into the war. The budget for 2025, released on Sunday, earmarks approximately $126 billion (13.5 trillion rubles) for national defense, which constitutes 32.5% of total government spending. This figure surpasses the previous record set earlier this year by about $28 billion (three trillion rubles).
The newly established three-year budget anticipates a modest decrease in military expenditures for 2026 and 2027, having received approval from lawmakers in both chambers of the Russian parliament. The ongoing war in Ukraine represents the most significant conflict in Europe since World War II, with Moscow currently achieving advances in critical areas along the front lines while also engaging in a counteroffensive in the Kursk region, where Kyiv has experienced its only major military success this year. However, the protracted nature of the conflict, often characterized as a war of attrition, has severely strained the resources of both countries. Ukraine has consistently faced challenges regarding material and manpower, despite receiving substantial financial support from Western allies, including a recent commitment of over half a billion dollars in military equipment from Germany.
The future of U.S. aid under President-elect Donald Trump remains uncertain. In contrast, Russia boasts greater quantities of weapons, ammunition, and personnel, yet the pressure on its economy and populace is intensifying. Over the past two years, Russia has significantly ramped up its military spending, leading to signs of economic strain, including high inflation and labor shortages. In an effort to stabilize the situation, the Russian Central Bank raised interest rates to 21% in October, marking the highest level in decades. Meanwhile, Ukraine continues to benefit from substantial military support from its allies.
