Russia spent $167 billion on the full-scale invasion, with Ukraine destroying around $34 billion worth of Russian equipment as of Aug. 24, Forbes reported, based on data published by the General Staff of Ukraine’s Armed Forces.
This figure doesn’t include Russia’s defense spending that isn’t tied to the war, nor Russia’s economic losses as a result of multiple international sanctions.
The greatest expenditures go towards army supply, which costs $51.3 billion. Military salaries cost $35.1 billion, and compensation to the families of the fallen – $21 billion.
After the ruble depreciated against foreign currency, per-soldier budget expenses have gone down significantly from $200 per day to $120 per day, according to Forbes.
This is because the lion’s share of Russia’s budget is filled with oil and gas revenues. Russia continues to supply hydrocarbons to other countries, including EU member states.
Even so, this might not be enough to compensate for soaring expenses, Forbes reported, citing Reuters data.
According to Reuters, Russia spent almost 5.6 trillion rubles on defense in the first half of 2023, which already exceeds Russia’s entire planned 2023 federal defense budget.
Moscow had to double the defense budget to nearly 10 trillion rubles ($105 billion) or a third of the entire 2023 budget.
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Abhinav Thawait is a globe-trotting correspondent with a passion for international affairs. With a background in international relations, he offers a global perspective on the most pressing issues around the world. Abhinav’s curiosity takes his to the far corners of the earth, where he seeks to share untold stories and diverse viewpoints.