Putin Approves Record Defense Spending Amid Ongoing Ukraine Operation

The three-year budget, increasing spending by 25%, is designed to fund the military and counteract international sanctions.

Russian President Vladimir Putin has signed a national budget for the next three years that increases spending by around 25 percent.
The budget reportedly devotes a record amount to defense as Russia's military operation in Ukraine continues.
Spending in 2024 is expected to be 36.6 trillion rubles ($415 billion) with an expected deficit of 1.595 trillion rubles ($9.5 billion).
Almost 40% of all federal spending will go toward defense and law enforcement in 2024.
The budget was developed specifically to fund the military and to mitigate the impact of international sanctions imposed after Russia sent troops into Ukraine in February 2022.