Russia is expected to record its highest level of military spending this year after Vladimir Putin added around $60 billion to the budget initially planned.
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The significant revision of funding for the war in Ukraine was made by the Russian president late last year. The decision came after the Kremlin concluded that negotiations with the United States in Alaska would not result in a medium-term agreement to end the fighting on terms acceptable to Moscow.
According to two sources close to the Russian government, cited by Bloomberg, defense spending is expected to reach 17 trillion rubles, or about $199 billion, by the end of the year. That is approximately 40% higher than the government’s initial plan for the end of 2025.
The new figure is already close to the level of military spending planned for next year under the new budget presented by Russian officials last week.
The increase in funding is seen as another sign that Putin is preparing for the continuation and escalation of the war in Ukraine. Moscow has intensified missile attacks and strikes using faster, harder-to-intercept drones, targeting energy facilities, the transport network, hospitals and other civilian infrastructure.
Meanwhile, the Kremlin chief has expressed deep concern about what he views as increasingly aggressive rhetoric from European capitals. Following a series of attacks and hybrid threats, European countries have grown more concerned about Russia’s intentions and the possibility of a wider confrontation.
This trend marks a sharp change from a year ago. At that time, Russia aimed to slow the growth of military spending to limit the deficit and replenish cash reserves depleted during the war.
Before the 2026 budget was approved, Putin met with U.S. President Donald Trump in Anchorage, Alaska, in August 2025. According to one of the sources, after the meeting the Russian leader believed a peace agreement with Ukraine could be reached within the following year, avoiding the need for a major increase in military spending.
But by January, the Kremlin had concluded that an agreement with Ukraine was out of reach, as U.S.-mediated efforts had failed to produce significant progress.
Following that assessment, the Moscow government accelerated the expansion of the defense industry and increased other budget items related to the war.
As a result, Russia’s projected budget deficit for 2026 rose to more than 7 trillion rubles, or about $81.9 billion, from the initial estimate of 3.8 trillion rubles. To cover the additional costs in 2026, the government relied on increased domestic borrowing and gold sales.
During the summer, Russia expanded its military operations in Ukraine, and their intensity has continued to this day. In recent weeks, Russian forces have repeatedly attacked civilian targets, including Kyiv, while drones have also been used to strike bridges in the Ukrainian capital.
At the same time, attacks on ships near Black Sea ports have become an almost daily occurrence. Ukraine, for its part, has stepped up strikes on energy facilities inside Russia.
According to budget plans, military spending in 2027 is expected to total 17.1 trillion rubles. It is projected to fall slightly to 16.6 trillion rubles, or $194.4 billion, in 2028, and to 16.3 trillion rubles, or $190.6 billion, in 2029.
However, actual spending next year could once again exceed the targets set. According to the same sources, doubts are growing in Moscow about whether the Trump administration will be able to broker an agreement with Ukraine that Russia considers acceptable.
Tensions between Europe and Russia were also brought into sharper focus last week. Putin accused European officials of preparing for a possible conflict in the second half of this decade, citing military exercises in the Baltic Sea and statements about the Russian exclave of Kaliningrad.
The Russian president said Moscow had no plans to attack Europe, but warned that a direct attack on Russian territory would force the country to consider using its entire arsenal of available weapons.
“We understand that we would face an adversary with twice the population and enormous economic and military capabilities,” Putin said. He added: “We do not have enough forces and resources to confront this threat. But no one has the means of destruction that Russia has today. And these are our competitive advantages.”
