The rate of growth for Russia’s military spending outpaced all other European countries combined in 2024 as its invasion of Ukraine has persisted for nearly three years, according to an analysis from a London-based think tank.

Amid its second year of its latest offensive in Ukraine, Russia outspent all European nations on defense spending.

Russia’s military spending, driven by President Vladimir Putin’s efforts to put the country’s economy on a war footing, has now surpassed the combined defense budgets of all European nations, according to a new study.

Russia’s military spending exceeds the total defense budgets of all European countries. Last year, the Kremlin’s military expenditures grew by more than 40%, the Financial Times reports. The outlet notes that Russia’s military spending,

Russia’s military spending in 2024, when adjusted for purchasing power parity (PPP), exceeded that of the European Union and the United Kingdom combined by nearly $5 billion, the International Institute for Strategic Studies (IISS) said Wednesday.