Russia shows no signs of slowing down its invasion in Ukraine, even as its economy feels the pressure of war and the military suffers increasing losses, according to a prominent think tank. At the same time, Moscow’s arsenal of missiles and drones is becoming a direct threat to Europe, reports The Guardian.
“There are few indications that Russia’s ability to continue the war against Ukraine for the fifth year has diminished,” said Bastian Giegerich, General Director of the International Institute for Strategic Studies (IISS).
According to the IISS, Russia spent at least $186 billion on defense in 2025, a 3% increase in real terms, equivalent to 7.3% of GDP – more than double the amount spent by the USA and about three times more than the UK.
Fenella McGerty, a finance expert at the aforementioned think tank, estimates that the slowing economy could slightly reduce military spending in 2026, but years of rapid growth have given Russia a strong war chest. “Military spending has doubled in real terms since 2021,” she said.
Since the invasion in 2022, Ukraine has resisted, but Moscow continues intense operations, even after recording over 1.2 million casualties according to Western estimates.
“Despite Western discussions about a ceasefire, Russia is intensifying attacks on critical infrastructure and urban centers, using cruise missiles, ballistic missiles, and kamikaze drones,” Giegerich emphasizes.
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