Putin signs Russia’s largest national budget, bolstering military spending
1 year ago

Putin signs Russia’s largest national budget, bolstering military spending

Associated Press  

MOSCOW — Russian President Vladimir Putin on Monday signed a national budget for the next three years that increases spending by around 25% and reportedly devotes a record amount to defense as the the country’s military operation in Ukraine drags on. After the budget was passed by the lower house of the parliament, Speaker Vyacheslav Volodin said it was developed specifically to fund the military and to mitigate the impact of international sanctions imposed after Russia sent troops into Ukraine in February 2022. Record low unemployment, higher wages and targeted social spending should help the Kremlin ride out the domestic impact of pivoting the economy toward the military, but could pose a problem in the long term, analysts say. But independent business journalists Farida Rustamova and Maksim Tovkaylo said this month that around 39% of all federal spending will go toward defense and law enforcement in 2024.

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History of this topic

‘Shift to wartime mindset’: Nato chief calls for budget boost as Putin eyes ‘long-term confrontation'
Trending News
1 week, 4 days ago

‘Shift to wartime mindset’: Nato chief calls for budget boost as Putin eyes ‘long-term confrontation'

Firstpost  

European members of the North Atlantic Treaty Organisation are holding meetings to pitch an increase in the bloc’s target to 3 per cent at its annual summit next June North Atlantic Treaty Organisation chief Mark Rutte has called for raising defence budget by respective member nations. Rutte has said that the alliance’s defence spending needs to be much bigger than …

NATO boss calls for much higher defense spending to counter Russia
Top News
1 week, 4 days ago

NATO boss calls for much higher defense spending to counter Russia

CNN  

Brussels, Belgium Reuters — NATO head Mark Rutte warned the US-led transatlantic alliance on Thursday that it was not ready for the threats it would face from Russia in the coming years and called for a shift to a wartime mindset - with much higher defense spending. Rutte said future spending would have to be much higher than the current …

NATO boss calls for much higher defense spending to counter Russia
Top News
1 week, 4 days ago

NATO boss calls for much higher defense spending to counter Russia

CNN  

Brussels, Belgium Reuters — NATO head Mark Rutte warned the US-led transatlantic alliance on Thursday that it was not ready for the threats it would face from Russia in the coming years and called for a shift to a wartime mindset - with much higher defense spending. Rutte said future spending would have to be much higher than the current …

Putin earmarks 32% of Budget 2025 for Russia’s defence. Is he preparing for 4th year of Ukraine war?
3 weeks, 1 day ago

Putin earmarks 32% of Budget 2025 for Russia’s defence. Is he preparing for 4th year of Ukraine war?

Firstpost  

At a time when the Russian military is making continuous gains in the war on Ukraine, President Vladimir Putin has approved the largest-ever defence budget with a 22% annual hike As the war on Ukraine has entered a decisive phase, Russian President Vladimir Putin has approved the highest-ever defence budget for the next three years. The record budget with a …

Putin approves record defense spending — a third of Russia’s budget
3 weeks, 1 day ago

Putin approves record defense spending — a third of Russia’s budget

CNN  

CNN — Russian President Vladimir Putin has approved a record-breaking defense budget, setting aside a staggering third of the government’s total spending as the war in Ukraine drains resources from both sides nearly three years on. Scholz’s visit came after he rankled Ukrainian officials last month by calling Vladimir Putin, ending a years-long European effort to isolate the Russian president …

Vladimir Putin approves record military budget in bid to finish Ukraine war with Russian president dedicating a THIRD of his country's GDP to 'national defence'
3 weeks, 1 day ago

Vladimir Putin approves record military budget in bid to finish Ukraine war with Russian president dedicating a THIRD of his country's GDP to 'national defence'

Daily Mail  

Vladimir Putin has approved a record military budget in a bid to end the Ukraine war as he dictates a third of Russia's 2025 GDP to 'national defence'. Vladimir Putin has approved a record-high military budget for Russia's 'national defence' next year Russian servicemen jump off a T-90M Proryv tank during a combat training for assault units in an undisclosed …

Putin signs off record Russian defense spending as top EU officials visit Kyiv
3 weeks, 2 days ago

Putin signs off record Russian defense spending as top EU officials visit Kyiv

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Russian President Vladimir Putin approved …

Putin signs off record Russian defense spending as top EU officials visit Kyiv
3 weeks, 2 days ago

Putin signs off record Russian defense spending as top EU officials visit Kyiv

LA Times  

Russian President Vladimir Putin approved budget plans, raising 2025 military spending to record levels as Moscow seeks to prevail in the war in Ukraine. New EU leaders in Kyiv pledge continued support for Ukraine New European Council President Antonio Costa and EU foreign policy chief Kaja Kallas arrived in Kyiv on Sunday, marking their first day in office with a …

Russia-Ukraine war: EU pledges $19 bn for outgunned and outspent Kyiv
3 weeks, 4 days ago

Russia-Ukraine war: EU pledges $19 bn for outgunned and outspent Kyiv

Firstpost  

The aid comes at a critical time for Ukraine as questions grow about the future of US assistance when Donald Trump returns to power The European Union on Thursday confirmed it will provide Ukraine with €18.1 billion as part of a larger $50 billion Group of Seven loan aimed at supporting Kyiv amid its fight against Russia’s invasion. Uncertainty over …

Russian lawmakers give final nod on record military funding boost
3 weeks, 6 days ago

Russian lawmakers give final nod on record military funding boost

Al Jazeera  

Massive increase in spending builds on last year’s record, as Moscow maintains war on Ukraine, confrontation with West. Lawmakers in Russia’s upper house have given final parliamentary approval to a plan to boost military spending by almost 30 percent next year. That is about 3 trillion rubles more than was apportioned for this year, which itself represented a post-Cold War …

Russia is locking up butter as inflation crisis reaches new heights
1 month ago

Russia is locking up butter as inflation crisis reaches new heights

CNN  

CNN — Americans have spent the last few years complaining about inflation. But an influential group of Russian economists said on Telegram this week that “increased inflationary pressure will not only persist but may even increase.” Russia’s President Vladimir Putin said earlier this month that the Russian economy needs nearly 1 million new workers because of an unemployment rate of …

Russia is locking up butter as inflation crisis reaches new heights
Top News
1 month ago

Russia is locking up butter as inflation crisis reaches new heights

CNN  

CNN — Americans have spent the last few years complaining about inflation. But an influential group of Russian economists said on Telegram this week that “increased inflationary pressure will not only persist but may even increase.” Russia’s President Vladimir Putin said earlier this month that the Russian economy needs nearly 1 million new workers because of an unemployment rate of …

Russia is locking up butter as inflation crisis reaches new heights
Top News
1 month ago

Russia is locking up butter as inflation crisis reaches new heights

CNN  

CNN — Americans have spent the last few years complaining about inflation. But an influential group of Russian economists said on Telegram this week that “increased inflationary pressure will not only persist but may even increase.” Russia’s President Vladimir Putin said earlier this month that the Russian economy needs nearly 1 million new workers because of an unemployment rate of …

Russian strike kills six as Ukraine marks defenders day
2 months, 3 weeks ago

Russian strike kills six as Ukraine marks defenders day

The Hindu  

A Russian strike on a southern Ukraine market killed six people on Tuesday as the nation held a moment of silence to mark a major public holiday honouring troops, authorities said. ‘Work with both’ As Moscow pressed ahead in the east, Russia announced plans on Monday to boost its defence budget by almost 30% next year as it drives resources …

Russia hikes 2025 defence spending by 25% to a new post-Soviet high
2 months, 3 weeks ago

Russia hikes 2025 defence spending by 25% to a new post-Soviet high

Hindustan Times  

* Russia hikes 2025 defence spending by 25% to a new post-Soviet high {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} Russia to spend 6.3% of GDP on national defence {{^usCountry}} {{/usCountry}} * Highest level since the Cold War * Defence spending at $145 billion, budget shows * Defence spending a third of all spending * Defence and security spending even higher By Darya …

Vladimir Putin spends big—and sends Russia’s economy soaring
4 months ago

Vladimir Putin spends big—and sends Russia’s economy soaring

Hindustan Times  

A Ukrainian incursion into Russia represents an enormous embarrassment for Vladimir Putin and his military leadership. Consumer confidence, as measured by Russia’s statistical agency, is well above its average since Mr Putin assumed power 24 years ago. Sberbank, the country’s largest financial institution, notes that in June overall consumer spending rose by 20% year on year in nominal terms. Data …

Why Putin’s inflation battle is weakening Russia from within
4 months, 1 week ago

Why Putin’s inflation battle is weakening Russia from within

The Telegraph  

There is no better signal that money is tight than Putin’s decision to appoint a trained economist with zero military experience as his defence minister. “The risk is that a slowdown in growth will become much more pronounced than moderation in inflation which could mean that Russia might be facing a scenario of stagflation as early as next year. This …

Russia-Ukraine war: Billionaires make $11bn dividends as economy resumes
5 months, 2 weeks ago

Russia-Ukraine war: Billionaires make $11bn dividends as economy resumes

Live Mint  

-- Russian tycoons received billions of dollars in dividends as their companies resumed or boosted payouts amid easing economic uncertainty over the Kremlin’s war in Ukraine. Many commodities exporters have resumed payment of dividends after reshaping their businesses and re-routing sales toward markets in China, India and other Global South nations that haven’t implemented sanctions over the war in Ukraine. …

Putin says he sees no threat warranting use of nuclear arms but again warns Russia could arm Western foes
6 months, 2 weeks ago

Putin says he sees no threat warranting use of nuclear arms but again warns Russia could arm Western foes

LA Times  

President Vladimir Putin says he sees no current threat to Russia’s sovereignty that would warrant the use of nuclear weapons but has again warned that Moscow could send arms to countries or groups to strike Western targets. Speaking at the St. Petersburg International Economic Forum on Friday, Putin said use of nuclear weapons is only possible in “exceptional cases” and …

Russia plans higher taxes for rich, companies as cost of Ukraine war mounts
6 months, 3 weeks ago

Russia plans higher taxes for rich, companies as cost of Ukraine war mounts

Al Jazeera  

New tax thresholds and hike in corporation tax are expected to raise about 2.6 trillion rubles a year. The amendments are expected to raise about 2.6 trillion rubles a year, the Interfax news agency reported, citing Finance Ministry calculations. “The changes are aimed at building a fair and balanced tax system,” Minister of Finance Anton Siluanov said in a statement, …

Global military spending climbed 7% in 2023 amid conflicts, think-tank SIPRI says
8 months ago

Global military spending climbed 7% in 2023 amid conflicts, think-tank SIPRI says

Hindustan Times  

Global military expenditure grew 7% to $2.43 trillion in 2023, the steepest annual rise since 2009 as international peace and security deteriorated, a leading think-tank said on Monday, Arms being transferred to Ukraine by United States. Nan Tian, senior researcher at SIPRI's Military Expenditure and Arms Production Programme, said: "States are prioritising military strength but they risk an action–reaction spiral …

Western leaders face hard choices to help Ukraine resist Putin’s aggression
8 months, 2 weeks ago

Western leaders face hard choices to help Ukraine resist Putin’s aggression

The Independent  

The overwhelming majority of the British people stand with the Ukrainian people in their time of need. As Lord Sedwill says, “That is a huge challenge, but a fraction of the cost we will face if Putin prevails.” Mr Zhorin warns that if Putin senses weakness or, worse, should defeat Ukraine, his Russia “will undoubtedly open its mouth and try …

Ukraine warns delays in Western aid supplies ‘costing lives and territory’
9 months, 4 weeks ago

Ukraine warns delays in Western aid supplies ‘costing lives and territory’

The Independent  

Sign up to Simon Calder’s free travel email for expert advice and money-saving discounts Get Simon Calder’s Travel email Get Simon Calder’s Travel email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Half of Western arms deliveries are being delayed and the hold-up is putting lives and territories …

Russia’s parliament approves budget with a record amount devoted to defense spending
1 year, 1 month ago

Russia’s parliament approves budget with a record amount devoted to defense spending

Associated Press  

Russia’s parliament approved a federal budget Wednesday that increases spending by around 25% in 2024-2026 and devotes a record amount to defense. The budget for 2024-2026 was developed specifically to fund the Russian military and to mitigate the impact of “17,500 sanctions” on Russia, State Duma Chairman Vyacheslav Volodin said after the lower chamber approved it on Nov. 17. Under …

Russian lawmakers approve a budget with a record amount devoted to defense spending
1 year, 1 month ago

Russian lawmakers approve a budget with a record amount devoted to defense spending

Associated Press  

LONDON — The lower house of Russia’s parliament, the State Duma, approved a federal budget Friday that increases spending by around 25% in 2024 and devotes a record amount to defense. The budget for 2024-2026 was developed specifically to fund the Russian military and to mitigate the impact of “17,500 sanctions” on Russia, State Duma Chairman Vyacheslav Volodin said. The …

A record Russian budget will boost defense spending, shoring up Putin’s support ahead of election
1 year, 1 month ago

A record Russian budget will boost defense spending, shoring up Putin’s support ahead of election

Associated Press  

LONDON — Russia’s State Duma took a step forward Wednesday towards approving its biggest-ever federal budget which will increase spending by around 25% in 2024, with record amounts going on defense. The draft budget “is about getting the war sorted in Ukraine and about being ready for a military confrontation with the West in perpetuity,” said Richard Connolly, an expert …

Russia backs record increase in defence spending plans as Ukraine war rages on
1 year, 1 month ago

Russia backs record increase in defence spending plans as Ukraine war rages on

Live Mint  

Russian lawmakers backed a record increase in military spending to fund Moscow's offensive on Ukraine, in a first reading of the bill Thursday. Before the vote on Thursday, finance minister Anton Siluanov told lawmakers the proposed budget was "aimed at today's main task -- ensuring our victory." "The war has become existential for the Russian economy because a big part …

Russia to hike defence spending by almost 70% in 2024: Ministry
1 year, 2 months ago

Russia to hike defence spending by almost 70% in 2024: Ministry

The Hindu  

Russia is set to hike defence spending by almost 70 percent in 2024, a finance ministry document published Thursday showed, as Moscow pours resources into its full-scale offensive in Ukraine. The document said defence spending was set to jump by over 68 percent year-on-year to almost 10.8 trillion rubles, totalling around 6 percent of GDP -- more than spending allocated …

Ukraine plans big rise in defence spending in 2024 draft budget
1 year, 3 months ago

Ukraine plans big rise in defence spending in 2024 draft budget

Firstpost  

The finance ministry said in a statement that spending on defence was expected to be more than 21% of gross domestic product. The spending includes an allocation of 48.1 billion hryvnias for buying drones, which have been widely used by both sides in the almost 19-month-old war. The government approved a draft 2024 budget on Friday that puts the deficit …

Russia’s technocrats keep funds flowing for Vladimir Putin’s war
1 year, 5 months ago

Russia’s technocrats keep funds flowing for Vladimir Putin’s war

Hindustan Times  

VADIM, A CAR-PARTS dealer from a provincial Russian town, never supported the war. Indeed, he broadly backed the West’s sanctions on Russia: how else could you stop the “monsters” intent on destroying his country, as well as Ukraine, if not by hitting their pockets? Gross domestic product contracted by just 2.2% last year, smashing many economists’ expectations, made in the …

Russia’s economy can withstand a long war, but not a more intense one
1 year, 5 months ago

Russia’s economy can withstand a long war, but not a more intense one

Hindustan Times  

A WEEK AFTER Russia invaded Ukraine last year, Antony Blinken, America’s secretary of state, crowed, “The value of the ruble has plummeted; the Russian stockmarket closed as fear of capital flight rose; interest rates more than doubled; Russia’s credit rating has been cut to junk status.” American authorities clearly hoped that the “massive, unprecedented consequences” they and their allies had …

Putin’s war in Ukraine has now reached his doorstep – what does that mean for Russia?
1 year, 6 months ago

Putin’s war in Ukraine has now reached his doorstep – what does that mean for Russia?

The Independent  

When it comes to the Russian reaction to the drone attack on Moscow, there must now be an understanding in the Kremlin that if you dish it out, you are going to have to take it. For Muscovites, after 15 months of Vladimir Putin’s war rhetoric and assurances that his “special military operation” wouldn’t affect them, this is a decidedly …

Russia won't make major gains in Ukraine in 2023: US intel chief
1 year, 9 months ago

Russia won't make major gains in Ukraine in 2023: US intel chief

Firstpost  

Washington: Russia’s military is likely unable to sustain its current level of fighting in Ukraine and probably won’t capture significantly more territory this year, US Director of National Intelligence Avril Haines said Wednesday. After major setbacks and large battlefield losses, “We do not foresee the Russian military recovering enough this year to make major territorial gains,” Haines told a Senate …

Russia's Vladimir Putin says positive dynamic in military operation in Ukraine
1 year, 11 months ago

Russia's Vladimir Putin says positive dynamic in military operation in Ukraine

Hindustan Times  

Russian President Vladimir Putin said the special military operation was showing a positive trend and that he hoped Russian soldiers would deliver further gains after Soledar. Vladimir Putin On Russia-Ukraine War: Russian President Vladimir Putin "The dynamic is positive," Putin told Rossiya 1 state television. "And I hope that our fighters will please us even more with the results of …

Russia’s military Keynesianism
2 years, 1 month ago

Russia’s military Keynesianism

Al Jazeera  

In late September, Russian President Vladimir Putin announced a “partial” mobilisation in Russia, as he forced through the annexation of four occupied regions in southeastern Ukraine after sham referendums. When declaring the “partial” mobilisation, Putin emphasised that drafted Russian soldiers would be paid the same as the contract soldiers who have been the backbone of the Russian forces in Ukraine …

Putin scrambles to boost weapons production for Ukraine war
2 years, 1 month ago

Putin scrambles to boost weapons production for Ukraine war

Associated Press  

KYIV, Ukraine — Russian President Vladimir Putin, facing military production delays and mounting losses, urged his government Tuesday to cut through bureaucracy to crank out enough weapons and supplies to feed the war in Ukraine, where a Western-armed Ukrainian counteroffensive has set back Russia’s forces. The Institute for the Study of War, in Washington, added that “the slower tempo of …

Putin scrambles to boost weapons production for Ukraine war
2 years, 1 month ago

Putin scrambles to boost weapons production for Ukraine war

LA Times  

Residents of Mykolaiv, Ukraine, line up Tuesday at a school to receive a daily ration of bread. On Tuesday, he chaired a new committee designed to accelerate the production and delivery of weapons and supplies for Russian troops, stressing the need to “gain higher tempo in all areas.” Russian news reports have acknowledged that many of those called up under …

Putin blasts US attempts to preserve global domination
2 years, 3 months ago

Putin blasts US attempts to preserve global domination

Associated Press  

MOSCOW — Russian President Vladimir Putin on Tuesday blasted what he described as U.S. efforts to preserve its global domination and ordered officials to boost weapons production amid the fighting in Ukraine. Speaking while receiving credentials from foreign ambassadors to Moscow, Putin said “the objective development toward a multipolar world faces resistance of those who try to preserve their hegemony …

Russian economy to decline by 2-2.5%: Putin after 6 months of war in Ukraine
2 years, 3 months ago

Russian economy to decline by 2-2.5%: Putin after 6 months of war in Ukraine

Live Mint  

Russian President Vladimir Putin said on Wednesday that Russia's economy will decline by 2-2.5 per cent, about six months after he declared a “special military operation” in Ukraine. Vladimir Putin said Russia's budget surplus would come in at 0.5 trillion roubles in 2022, and the GDP would fall by "around 2% or a little more." “I’m sure that we’ve lost …

Defense companies aren’t getting a boost from Russia’s war with Ukraine
2 years, 7 months ago

Defense companies aren’t getting a boost from Russia’s war with Ukraine

CNN  

New York CNN Business — When war breaks out, defense companies tend to make money. “Those investors expecting a quick boost in earnings at the defense contractors due to the war in the Ukraine will likely be sorely surprised,” wrote Bank of America. Production of Raytheon’s Stinger and Javelin missiles, key weapons in the Ukrainian resistance to Russia, were stalled …

Biden’s defense budget is big. Democrats will vote to make it bigger
2 years, 8 months ago

Biden’s defense budget is big. Democrats will vote to make it bigger

LA Times  

Last week, President Biden sent Congress his proposed defense budget for the next fiscal year: an $813-billion wish list, almost $60 billion more than he requested a year ago — more military spending than any president, including Donald Trump, has requested since World War II. Biden’s defense budget spends more on nuclear weapons, space technology, research and development and makes …

Defence budget will not rise despite Ukraine war, Rishi Sunak signals
2 years, 9 months ago

Defence budget will not rise despite Ukraine war, Rishi Sunak signals

The Telegraph  

It had previously been suggested that the defence budget may increase amid concerns about the UK’s readiness for war if the conflict in Ukraine draws in Nato countries. Ministers are already planning to reduce troop numbers from 82,000 73,000 by 2025, while the high rate of inflation means the defence budget is shrinking in real terms, despite the planned top-up …

From Germany to China, how Russia-Ukraine conflict is forcing the world to ramp up defence budgets
2 years, 9 months ago

From Germany to China, how Russia-Ukraine conflict is forcing the world to ramp up defence budgets

Firstpost  

Russia’s invasion of Ukraine has prompted many countries to hike their defence budgets. Romania: President Klaus Iohannis said that his country would push defence spending to 2.5 per cent of GDP, from the current 2 per cent mark. China: Beijing too has increased its defence spending in 2022 by 7.1 per cent to $229 billion, up from a 6.8 per …

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