Russian President Vladimir Putin on Monday backed a suggestion by US President Donald Trump for Russia, the United States and China to all cut their defence budgets in half.
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“I think it’s a good idea. The US would cut by 50 per cent and we would cut by 50 per cent and then China would join if it wanted,” Putin said in a televised interview.
Russia has massively ramped up military spending since launching its offensive in Ukraine in 2022, boosting economic growth but also inflation.
Putin said last year that over 2024 defence and security spending would reach about 8.7 per cent of GDP.
He said on Monday he could not speak for China but Russia “could come to an agreement with the US [on cutting spending], we’re not against it”.
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“We think it’s a good proposal and we are ready for a discussion about this,” he concluded.