“Russia has paid a staggering price for Putin’s folly,” Austin said. “It’s squandered more than $200 billion and suffered at least 700,000 casualties.” The unprecedented spending underpins the Kremlin’s aggression but has dealt severe economic damage domestically.
2022: $86.4 billion, a 31% increase from 2021, comprising 4.4% of GDP
2023: $109.5 billion, a 26.7% rise from the previous year
2024: $112 billion, sustaining a high allocation for military purposes
2025: Projected to soar to $142 billion, accounting for 32.5% of government spending