• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
PoliticsRussia

Russia to spend a third of its budget on defense as Ukraine war drains resources

By
The Associated Press
The Associated Press
Down Arrow Button Icon
By
The Associated Press
The Associated Press
Down Arrow Button Icon
December 1, 2024, 10:33 AM ET
Vladimir Putin at the Kremlin on Nov. 18.
Vladimir Putin at the Kremlin on Nov. 18.Vyacheslav Prokofyev—POOL/AFP via Getty Images

Russian President Vladimir Putin approved budget plans, raising 2025 military spending to record levels as Moscow seeks to prevail in the war in Ukraine.

Recommended Video

Around 32.5% of the budget posted on a government website Sunday has been allocated for national defense, amounting to 13.5 trillion rubles (over $145 billion), up from a reported 28.3% this year.

Lawmakers in both houses of the Russian parliament, the State Duma and Federation Council, had already approved the plans in the past 10 days.

Russia’s full-scale invasion of Ukraine since February 2022 is Europe’s biggest conflict since World War II and has drained the resources of both sides. Kyiv has been getting billions of dollars in help from its Western allies, but Russia’s forces are bigger and better equipped, and in recent months the Russian army has gradually been pushing Ukrainian troops backward in eastern areas.

New EU leaders in Kyiv pledge continued support for Ukraine

New European Council President Antonio Costa and EU foreign policy chief Kaja Kallas arrived in Kyiv on Sunday, marking their first day in office with a strong message of support for Ukraine. Their visit comes as doubts are deepening over what Kyiv can expect from a new U.S. administration led by Donald Trump.

“From day one of the war, the EU has stood by the side of Ukraine,” Costa posted on X, together with a photo of himself, Kallas and EU enlargement chief Marta Kos. “From day one of our mandate, we are reaffirming our unwavering support to the Ukrainian people.”

Speaking at a news conference with Ukrainian President Volodymyr Zelenskyy, Costa reiterated the EU’s recent commitment to help Ukraine continue through the war, including €4.2 billion ($4.4 billion) to support Ukraine’s budget and €1.5 billion ($1.6 billion) of assistance every month from the proceeds of frozen Russian assets.

Asked whether the EU would step up funding if Trump withdrew support, Costa said the block would “stand for Ukraine as long as necessary.”

Zelenskyy said that any future ceasefire negotiations with Russia would need to include representatives from the EU and NATO, because Ukraine seem its future security in both alliances. However, he said he failed to see what any such negotiations would focus on, adding that Ukraine would “never legally recognize any occupation of our lands by the Russian Federation.”

He urged the outgoing Biden administration to use the remaining two months in office to exert influence “over those few European skeptics about our future. I see nothing, I personally see no risks, and most NATO countries see no risks from the recommendation regarding the positive future of Ukraine’s membership in NATO.”

Zelenskyy said Friday that an offer of NATO membership to territory under Kyiv’s control would end “the hot stage of the war.”

3 killed in Ukraine and a child dies in a drone attack in Russia

On the ground in Ukraine, three people died in the southern city of Kherson when a Russian drone struck a minibus on Sunday morning, regional Gov. Oleksandr Prokudin said. Seven others were wounded in the attack.

Meanwhile, the number of wounded in Saturday’s missile strike in Dnipro in central Ukraine rose to 24, with seven in serious condition, Dnipropetrovsk Gov. Serhiy Lysak said. Four people were killed in the attack.

Moscow sent 78 drones into Ukraine overnight into Sunday, Ukrainian officials said. According to Ukraine’s air force, 32 drones were destroyed and a further 45 drones were lost, likely having been electronically jammed.

In Russia, a child was killed in a Ukrainian drone attack in the Bryansk region bordering Ukraine, according to regional Gov. Alexander Bogomaz.

Russia’s Defense Ministry said that 29 Ukrainian drones were shot down overnight into Sunday in four regions of western Russia: 20 over the Bryansk region, seven over the Kaluga region, and one each over the Smolensk and Kursk regions.

Join us at the Fortune Workplace Innovation Summit May 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.
About the Author
By The Associated Press
See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

LawJeffrey Epstein
Epstein files lead to resignation of top Slovakian official, while British prime minister calls on former prince to cooperate with U.S. authorities
By Michael R. Sisak, Danica Kirka, Ben Finley and The Associated PressJanuary 31, 2026
6 hours ago
Economygeopolitics
BRICS could become a new pillar of global governance—if its rapid growth doesn’t erode its newfound clout
By Brian WongJanuary 31, 2026
8 hours ago
LawICE
Judge orders 5-year-old boy and his dad released from ICE detention, citing ‘incompetently-implemented government pursuit of daily deportation quotas’
By Geoff Mulvihill and The Associated PressJanuary 31, 2026
9 hours ago
EconomyFederal Reserve
Fed chair nominee Kevin Warsh could crush Trump’s rate-cut hopes and risk suffering the same level of abuse that Powell got, analysts say
By Jason MaJanuary 31, 2026
9 hours ago
EconomyDebt
Trump thinks a weaker dollar is great, but the U.S. needs a stable currency as national debt heads toward $40 trillion, former Fed president says
By Jason MaJanuary 31, 2026
11 hours ago
LawImmigration
Judge declines to halt Trump’s immigration crackdown in Minnesota, despite fatal shootings, as lawsuit proceeds
By The Associated PressJanuary 31, 2026
13 hours ago

Most Popular

placeholder alt text
Economy
'I just don't have a good feeling about this': Top economist Claudia Sahm says the economy quietly shifted and everyone's now looking at the wrong alarm
By Eleanor PringleJanuary 31, 2026
23 hours ago
placeholder alt text
Success
Ryan Serhant starts work at 4:30 a.m.—he says most people don’t achieve their dreams because ‘what they really want is just to be lazy’
By Preston ForeJanuary 31, 2026
18 hours ago
placeholder alt text
Future of Work
Ford CEO has 5,000 open mechanic jobs with up to 6-figure salaries from the shortage of manually skilled workers: 'We are in trouble in our country'
By Marco Quiroz-GutierrezJanuary 31, 2026
16 hours ago
placeholder alt text
Success
Alexis Ohanian walked out of the LSAT 20 minutes in, went to a Waffle House, and decided he was 'gonna invent a career.' He founded Reddit
By Preston ForeJanuary 31, 2026
16 hours ago
placeholder alt text
Economy
Right before Trump named Warsh to lead the Fed, Powell seemed to respond to some of his biggest complaints about the central bank
By Jason MaJanuary 30, 2026
2 days ago
placeholder alt text
AI
Top engineers at Anthropic, OpenAI say AI now writes 100% of their code—with big implications for the future of software development jobs
By Beatrice NolanJanuary 29, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.