James Mugg
Security, Europe
Spending is set to drop.
In 2014, the Russian economy faced two major setbacks: international economic sanctions following Russia’s annexation of Crimea, and a collapse in global oil prices. At the time, crude oil alone represented more than a third of Russian exports by value. The Russian economy has no doubt seen better days, but defense spending has until now largely been protected from the recent economic downturn. But that might be about to change: economic pressures are mounting and the Kremlin will likely be forced to choose between sustaining foreign operations and moving ahead with military …read more
Source: The National Interest
