Russia’s defense spending has surpassed that of all European countries combined, according to a new study, raising concerns about its military ambitions as the US Pentagon faces possible budget cuts.
Moscow’s sharp increase in its military budget reflects its war effort in Ukraine and broader strategic ambitions as European nations struggle to keep up.
The International Institute for Strategic Studies (IISS) reported that Russia’s military spending in 2024 reached an estimated $145.9 billion, equivalent to 6.7 percent of its GDP. That represents an increase of more than 40 percent from the previous year and, when adjusted for purchasing power parity (PPP), amounts to approximately $462 billion, effectively exceeding the combined defense budgets of European countries.
In contrast, European countries have significantly increased their military spending in response to the war in Ukraine, reaching a total of $457 billion in 2024. That figure is 50 percent higher in nominal terms than in 2014, but still falls short of Russia’s spending when adjusted for domestic cost factors.
Meanwhile, U.S. defense budgets remain constrained by concerns about domestic spending, with mounting pressure for cuts in the Pentagon. This could lead to a realignment of global military commitments and force European nations to take on a larger share of their own defense spending.
