Russia cuts military spending for first time in 20 years
Pressure from Western sanctions is believed to have forced Russia to cut its defense budget by 20% last year.
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The "Terminator" armored vehicle, one of the new weapons announced by Russia this year. Photo: Ria Novosti. |
Russia's defense budget last year was only $66.3 billion, 20% lower than in 2016. This marked the first time Russia's military spending had been cut since 1998, AFP reported, citing a report published by the Stockholm International Peace Research Institute (SIPRI) on May 2.
"Military modernization remains a priority for Russia, but the defense budget has been constrained by the economic problems the country faced following the annexation of Crimea in 2014," said SIPRI researcher Siemon Wezeman.
Russia has been steadily increasing its military spending in previous years, cutting back on other areas such as infrastructure. However, 2017 saw Moscow having no choice but to reduce its military spending. “They can no longer afford to maintain high levels or increase their defense budget,” Wezeman said.
In March, Russian President Vladimir Putin announced plans to cut the defense budget this year and next.We will certainly be interested in strengthening our defense capabilities, but I want to tell you right now: No one will start an arms race," Putin said.
Relations between Russia and the West are at their lowest point since the Cold War, due to divisions over the Syrian crisis and the poisoning of former double agent Sergei Skripal and his daughter in Britain.
