Russia no longer ranks among the top three spenders on defense, dropping down to fourth place, the Stockholm International Peace Research Institute (SIPRI) reported Tuesday.
The United States remained the leader by far, accounting for 36 percent of all military spending in the world, according to the SIPRI report. In 2015, Washington increased its defense expenditure 2.4 percent to $596 billion.
China ranked second, having spent $215 billion on defense last year, having increased its military budget by 7.4 percent, the report said.
The third position — previously occupied by Russia ?€” was held by Saudi Arabia. Last year, their defense budget totaled $87.2 billion, up 5.7 percent from 2014.
Russia increased its military spending last year by 7.5 percent to $66.4 billion. The authors of the report noted that Russia's defense expenditure was lower than budget projections amid weakening oil prices.
Total military spending in 2015 rose 1 percent to $1.7 trillion. Growth was registered for the first time since 2011, the report said.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.