Putin Plans to Cut Russia's 6.3% GDP Military Spending Amid Economic Strains as Lavrov Warns NATO 5% GDP Defense Increase Could Collapse Alliance

Russian Foreign Minister Sergey Lavrov has downplayed the impact of NATO's recent decision to increase defense spending to 5% of member countries' GDP by 2035, stating it will not significantly affect Russia's security. However, Lavrov later warned that this "catastrophic" increase in NATO's defense budgets could ultimately lead to the alliance's collapse, urging NATO members to exercise common sense. Meanwhile, Russian President Vladimir Putin announced plans to reduce Russia's military spending starting next year, citing economic strains including inflation, slower GDP growth, depleted reserves, and looming corporate defaults. Putin noted that Russia's current defense expenditure stands at 6.3% of GDP, which he considers high and a problem to be addressed. He contrasted Russia's planned cuts with NATO's increased spending, emphasizing that reductions would depend on the outcome of the ongoing war in Ukraine. Kremlin officials have also warned that Russia is on the brink of recession amid these economic challenges.