President of Russia plans to spend $400 billion through 2020 to modernize Russian armed forces.

[Zarvan]

Putin's plan aims to spend 22 trillion rubles (over $400 billion) through 2020 to give the Russian armed forces dozens of navy ships, hundreds of new planes and missiles and thousands of tanks and other weapons. Russia needs a mighty military to fend off threats near its borders, President Vladimir Putin said Thursday, in a stance that reflects soaring tensions with the West over the crisis in Ukraine.

Russian President Vladimir Putin, left, takes part in a wreath laying ceremony at the Tomb of the Unknown Soldier outside Moscow’s Kremlin Wall, in Moscow, Russia, Monday, June 22, 2015, to mark the 74th anniversary of the Nazi invasion of the Soviet Union. (AP)

Speaking at Thursday's Kremlin meeting with graduates of Russian military academies, Putin also vowed to continue a sweeping military modernization effort that envisions the purchase of large numbers of new weapons.

Putin added that Russia has no aggressive intentions and aims to "settle any disputes exclusively by political means with respect to international law and interests of other nations."

The Russian leader, whose approval ratings reached an all-time high this month despite a bruising recession, said a "powerful army equipped with modern weapons is the guarantor of sovereignty and territorial integrity of Russia."

By the other way, military spending by NATO countries is set to fall again this year in real terms despite increased tensions with Russia and a pledge by alliance leaders last year to halt falls in defense budgets, NATO figures released on Monday showed.

The figures showed defense spending by the 28 members of the alliance is set to fall by 1.5 percent in real terms this year after a 3.9 percent fall in 2014.

NATO Secretary-General Jens Stoltenberg said 18 allies were set to raise defense spending this year in real terms, but the total was lower, continuing a trend of declining military spending, especially by European NATO allies.

President of Russia plans to spend $400 billion through 2020 to modernize Russian armed forces 12906151 | June 2015 Global Defense Security news UK | Defense Security global news industry army 2015

 

[The Huskar]

From where is Putin gonna get this 400 billion to pay???

 

[Providence]

Russia will go down like a supernova. That;s all.

 

[S10]

From where is Putin gonna get this 400 billion to pay???

He scored some major gas and oil deals with China lately.

 

[The Huskar]

He scored some major gas and oil deals with China lately.

That money is spread over decades,not years.400 billion by 2020 would require Putin to to pull out a metaphorical elephant from the hat.

 

[Smh12344538]

That money is spread over decades,not years.400 billion by 2020 would require Putin to to pull out a metaphorical elephant from the hat.

He's getting Arab money
jk

 

[Skull and Bones]

He scored some major gas and oil deals with China lately.

It could have been better spent as a stimulus for the economy.

 

[Smh12344538]

It could have been better spent as a stimulus for the economy.

The major effect on the Russian economy was the low oil prices rather than the sanctions as the west would like us to believe.

 

[Skull and Bones]

The major effect on the Russian economy was the low oil prices rather than the sanctions as the west would like us to believe.

I concur with the views, the answer is to diversify the economy rather than relying on just one sector.

 

[Shotgunner51]

Very ambitious and visionary plan, 22 trillion rubles (over $400 billion) of procurement-only spending is a lot, especially if it is additional to normal operating budget. And since most of the procurements are domestic, that give this money extra purchasing power.

US is well prepared for this, but NATO members in Europe definitely have to increase spending to close to US level, or at least 2% of GDP as required by the pact.

 

[The Huskar]

He's getting Arab money
jk

Why would Arabs help Russia,a direct competitor in energy supply???

 

[Smh12344538]

Why would Arabs help Russia,a direct competitor in energy supply???

Because they are a military powerhouse and should US relations ever turn sour then Russia is by far the best option.

 

[The Huskar]

Because they are a military powerhouse and should US relations ever turn sour then Russia is by far the best option.

Best option for Saudis for future strategic partnership would be China,given Pakistan's relationship with both.But this is a highly cureless scenario.US would never let go of it's Middle East allies for them to fall into China's lap.

 

[Smh12344538]

Best option for Saudis for future strategic partnership would be China,given Pakistan's relationship with both.But this is a highly cureless scenario.US would never let go of it's Middle East allies for them to fall into China's lap.

It depends really, if the iran nuclear deal falls through then i can see the Saudis turning to probably both Russia and china but only time will tell.

 

[[Bregs]]

Another soviet union in making ? 400 b is not a small amount when economy is down for Russia