Support The Moscow Times!

Russia World’s No. 4 in Military Spending – Think Tank

Only the United States, China and India spent more than Russia on their militaries. Sophia Sandurskaya / Moskva News Agency

Russia and the rest of the world increased military spending in 2020 despite the coronavirus pandemic, the Stockholm International Peace Research Institute (SIPRI) think tank said in a new report Monday.

In a second consecutive year of growth, Russia’s military expenditure rose 2.5% to $61.7 billion, placing it fourth in the world behind the United States, China and India. Despite the increase, SIPRI said Russia spent significantly less on its military than initially expected.

Russia’s actual military spending in 2020 was 6.6% lower than its initial military budget, a larger shortfall than in previous years,” it said.

Global military spending reached almost $2 trillion, up 2.6%, SIPRI said, with the world’s top five countries, including the U.K., accounting for 62% of global military spending.

This was the biggest year-on-year rise in the military burden since the global financial and economic crisis in 2009,” the think tank said.

Russian industry officials said last month that the country’s 2020 arms sales had not been affected by the economic fallout from the Covid-19 pandemic. Customs data from 2020 still showed a 15.6% drop on the previous year in Russia’s so-called “secret” exports of arms and military equipment.

Russia’s other key export industries suffered coronavirus-driven losses in 2020, notably energy giant Gazprom’s gas exports to Europe on the back of collapsing energy prices and demand.

Arms sales play a key role in Russia’s push to increase its geopolitical clout around the world.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more