Military spending ups pressure on Kremlin finances – UK

Let’s examine some statements from the Ministry of Defence (MoD) in the United Kingdom, which has drawn attention to the strain on Russia’s financial resources caused by its escalating military expenditures.

In their daily update, the MoD refers to data provided by the Stockholm International Peace Research Institute, indicating that Russian military spending increased by 9.2% in 2022, reaching $86.4 billion (£70 billion). This amount represents approximately 4.1% of Russia’s GDP.

The MoD asserts that accurately determining Russia’s actual military spending is highly uncertain due to the increased utilization of classified budget allocations, particularly since February 2022 (the time of Russia’s invasion of Ukraine), and the lack of transparency.

To quote the Ministry of Defence: “It is highly likely that military spending remains at a heightened level, thereby exerting financial pressure on the Russian government.”