Russia's Finance Minister Anton Siluanov attends the Reuters Russia Investment Summit in Moscow September 24, 2014. Credit: Reuters/Maxim Shemetov
Finance Minister Warns Russia Can't Afford Military Spending Plan -- Reuters
(Reuters) - Russia's finance minister said on Tuesday the country could no longer afford a multi-billion-dollar revamp of the armed forces approved by President Vladimir Putin, stepping up a campaign to trim spending as sanctions over the Ukraine crisis bite.
Anton Siluanov said a new defense program should be drawn up to take into account the changed economic situation, even though the deputy prime minister in charge of the sector has been ruling out any cuts in military spending.
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More News On Russia's Finance Minister Issuing A Warning That The Country Cannot Afford Current Levels Of Military Spending
Finance Minister Says Russia's Grand Rearmament Plans are Unaffordable -- Moscow Times
Russian Finance Minister Says Country Can't Afford Current Military Spending -- Radio Free Europe
Russian Finance Minister: We Can No Longer Afford Our Military Spending Plan -- Business Insider
My Comment: The Russian military budget is not going to be cut .... especially now. But he did his job .... he issued the warning and now everyone in Russia knows that hard times are coming. My prediction .... most Russians are going to accept it as the price to pay to "feel safe" .... but if this continues for more than a year .... expect protests and opposition to grow.
Update: Russia’s Economy Under Pressure: Low price of oil, international unrest take a toll -- Washington Free Beacon
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