Russia will continue development of armament program with a budget of $730 billion through 2020 1307

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Defence & Security News - Russia
 
 
Saturday, July 13 2013 08:17 PM
 
Russia will continue development of armament program with a budget of $730 billion through 2020.
Russia will prioritize the development of powerful high-accuracy weapons whose combat capabilities would be comparable to those of weapons of mass destruction, President Vladimir Putin said.
     

Russian President Vladimir Putin.
     

“We will also continue the development of our nuclear deterrent, of course,” Putin said at a Friday meeting with World War II veterans during the celebration of the 70th anniversary of the Battle of Kursk.

Taking advantage of high oil and gas prices on global markets, the Russian government has allocated 22 trillion rubles ($730 billion) for its ambitious armed forces rearmament program through 2020.

The Russian military sees massive deployment of high-precision weapons as part of Russia’s response to the proposed European “missile shield,” which Moscow considers a threat to its nuclear deterrent.

Defense Minister Sergei Shoigu said earlier in July that Russia will increase its arsenal of cruise missiles by 30 times by the end of the current decade.