World
Russia's military spending exceeds all of Europe's defense budgets combined: IISS
The International Institute for Strategic Studies (IISS) has published its 2025 "Balance of War" report.
According to the report, Russia's military spending, whose economy has been put on an army pedestal by the war in Ukraine, now exceeds the combined defense budgets of all of Europe.
Russia's total defense spending in 2024 increased by 42% to 13.1 trillion rubles, equivalent to 462 billion US dollars.
According to IISS forecasts, Russia's total defense spending this year, including voluntary contributions from regional authorities and companies, will increase by 13.7% to 15.6 trillion rubles, equivalent to 7.5% of GDP or almost 40% of Russia's federal spending.
Even though this has negatively affected the Russian economy, the IISS said that Russia can still bear the costs of the war.
In contrast, if Europe were to increase defense spending to 3% of GDP, this would amount to an additional $250 billion, according to the IISS. If it rose to 5% of GDP, defense spending would increase by about $800 billion, almost doubling Russia's current spending level.
However, according to the IISS, European defense spending has doubled since 2014, and "budgetary restrictions could slow further growth.
By comparison, Germany's defense budget rose 23% to $86 billion, surpassing the UK's defense budget ($81 billion) for the first time in more than three decades.
