This is reported by RBK-Ukraine referencing Financial Times. Additionally, Kontrakty.UA has provided similar information.
The publication states that military expenditures in Russia, which Russian dictator Vladimir Putin has redirected towards military efforts, currently surpass all combined defense budgets of Europe.
Overall Russian defense spending increased by 42 percent last year, now totaling 13.1 trillion rubles, which is equivalent to 462 billion US dollars.
In comparison, European defense budgets, including those of the United Kingdom and EU member states, rose by nearly 12% last year to 457 billion dollars, slightly less than Moscow's expenditures. This data was released by the analytical center International Institute for Strategic Studies (IISS).
The publication noted that the "military balance," an annual assessment of global military capabilities and defense spending, highlights some security challenges Europe may face if the US reduces its support for Ukraine and European defense.
At the same time, according to the publication, US President Donald Trump, who promised to quickly end the war between Russia and Ukraine, stated that his administration has conducted "very serious" negotiations with Moscow, and complained that the US is spending too much on the conflict and on European security overall.
Forecast from IISS
According to IISS forecasts, this year total Russian defense spending—including so-called voluntary contributions from regional authorities and companies—is expected to increase by another 13.7 percent, reaching 15.6 trillion rubles, which is equivalent to 7.5 percent of GDP or nearly 40 percent of Russian federal expenditures.
IISS noted that despite the sanctions pressure on the Russian Federation, Moscow can still bear the costs of the war.
Increase in NATO countries' defense spending
It is worth noting that Trump has repeatedly urged NATO allies to boost their defense spending.
Moreover, last year he threatened them by stating that he would "encourage" Russia to "do whatever it wants" with Alliance members that fail to meet their financial commitments to the military-political bloc.
In January, the Republican called on NATO members to raise their defense spending to 5% of GDP.