Russia became the world's third largest military spender in 2016 despite low oil prices and economic sanctions, as the global expenditure rose for a second consecutive year, a study said on Monday. Russia became the world’s third largest military spender in 2016 despite low oil prices and economic sanctions, as the global expenditure rose for a second consecutive year, a study said on Monday.Russia’s military spending was $69.2 billion (around 64 billion euros) in 2016, a 5.9 percent rise over 2015, the Stockholm International Peace Research Institute (SIPRI) said in a report, adding this was the highest proportion of its …read more
Source: Pulse Nigeria
