Russia Must Increase Defense Spending, Says Putin

During a speech at the St. Petersburg International Economic Forum, Russian President Vladimir Putin stated that the Russian Federation is obligated to increase defense spending to protect its sovereignty, according to kommersant.ru.

“Naturally, additional resources were needed to strengthen defense and security, to purchase weapons. We must do this to protect our country's sovereignty. I must say that this, overall, justifies itself, including from an economic perspective,” Putin said.

According to the Stockholm International Peace Research Institute (SIPRI), Russia spent 34 percent more on 'national defense' in 2022 than previously planned in the budget. This has allowed the Russian Federation to become the third country in the world in terms of military spending, following the USA and China.