Sanctions force Russian Federation to cut defense spending

Sanctions force Russian Federation to cut defense spending

Sanctions force Russian Federation to cut defense spending

Overall, military spending across the global rose 1.1 percent in 2017 to $1.739 trillion, according to the institute.

Nudging France out of its position, India is now among the top five countries with biggest military spending, according to a report released by Stockholm International Peace Research Institute (SIPRI) on May 2. The report said that the total global military spending rose to United States dollars 1.739 trillion which is an increase of 1.1 per cent compared to the expenditure in 2016.

"Continuing high world military expenditure is a cause for serious concern", Jan Eliasson, chair of the SIPRI governing board, said in a statement accompanying the results of the survey. It replaces Russian Federation, the Stockholm International Peace Research Institute (SIPRI) said in a new report on Wednesday.

China, the biggest military spender in Asia, spent $228 billion (more than Rs 15 lakh crore) in 2017.

However, the group said as the balance of military spending is "clearly shifting" toward Asia, Oceania and the Middle East, it also figures that.the security dynamic of the world is changing. Central European countries closer to Russian Federation posted an overall increase of 12 percent, compared with a 1.7 percent rise in Western Europe.

Growth Analysis of Bristol-Myers Squibb Company (BMY)
It worsened, as 72 investors sold BMY shares while 526 reduced holdings. 106 funds took positions and 457 increased positions. Andy Redleaf increased its stake in Apache Corp (APA) by 37.59% based on its latest 2017Q4 regulatory filing with the SEC.

What did Tim Cook and Trump talk about?
In a statement, Prime Minister Theresa May's spokesman added: "The President of the United States will visit the UK on July 13". But the trip was scrubbed after Trump balked at the cost of the new building, which came in north of a billion dollars.

Huawei is under Department of Justice investigation for violating Iran sanctions
They warned that the company is "beholden" to the Chinese government and that we shouldn't trust their electronics. Last year, the White House blocked two proposed mergers between USA companies and Chinese companies.

North Atlantic Treaty Organisation members pledged to spend at least two percent of their GDP on defence by 2024 - but despite the recent increases, past year in Europe only Estonia, Greece and the United Kingdom met that target. Some government officials have called for lower military spending to free up funds for such initiatives. The share of the country accounted for 35% of global expenditure.

The five largest defence-spending nations, US, Saudi Arabia, Russia, India and China, accounted for 60 per cent of the global defence expenditure in 2017.

China has increased defence spending 8.5 per cent annually from 2007 to 2016 and its leaders "seem committed to increasing defence spending for the foreseeable future, even as China's economic growth slows", according to a US Department of Defence report on China's military spending. Other notable increases in the region were those of Latvia and Lithuania, both of which increased their military spending by 21 percent.

The institute said Algeria remained Africa's largest spender, but its spending dropped in 2017 due to lower oil and gas prices. This year, the military budget slipped to just 1.57% of the GDP.

Military expenditure in Africa decreased by 0.5 per cent in 2017, the third consecutive annual decrease since the peak in spending in 2014. Military expenditure for countries in the Middle East for which data is available also grew in 2017, by 6.2 per cent, and was 29 per cent higher than in 2008 for these countries. Military expenditure refers to all government spending on current military forces and activities, including salaries and benefits, operational expenses, arms and equipment purchases, military construction, research and development, and central administration, command and support.

Related news