Russian military spending spree

Archived Articles | 09 Feb 2007 | Adu RaudkiviEWR

In a speech on Tuesday February 6, 2007, Sergei Ivanov, Russian Defense Minister and Deputy President, said Russia will replace half of its military hardware by 2015, reports Agence France Presse.

Just a week after complaining about the US missile defense shield, Russia now plans a serious rearmament program including 50 new Topol missile complexes. Russia also plans to add 50 new bombers, 31 new ships, rearming 40 tank, 97 infantry, and 50 parachute battalions.Russia also plans to implement an anti-missile shield.

This 8 year spending will cost 189 billion US dollars, which has quadrupled Russian military spending since 2001.

The article indicates Ivanov will be running for Russian presidency in the 2008 election replacing Vladmir Putin, who will not be running.

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