Russia Cuts Military Spending to 6.3% of GDP, Seeks Diplomatic Resolution

Russian President announced during a press conference in Minsk that the country plans to reduce its military spending, which currently stands at 6.3% of its GDP. This expenditure, according to the President, is substantial and has contributed to inflation. The President acknowledged the economic burden of maintaining such a high level of military spending, indicating a shift in Russia's fiscal priorities.

The President also expressed openness to the possibility of meeting with U.S. President, stating that Russia is willing to prepare for such an encounter. This statement comes at a time when geopolitical tensions are high, and the international community is closely watching the developments in the region. The President noted that the U.S. President has a genuine desire to end the conflict in Ukraine, suggesting a potential for diplomatic resolution.

In addition to the potential meeting with the U.S. President, Russia is prepared to hold a third round of talks with Ukraine in Istanbul, pending agreement on the timing. Both countries are expected to maintain contact following the exchange of prisoners, indicating a continued effort towards de-escalation and resolution. The President emphasized that the surrender of Ukraine is not a precondition for ending the war, suggesting a willingness to engage in negotiations without preconditions.

Furthermore, the President stated that the latest round of energy sanctions imposed by the European Union is unlikely to have a significant impact on Russia. This statement reflects Russia's confidence in its ability to withstand economic pressure and maintain its strategic interests. The President's remarks underscore Russia's determination to navigate the complex geopolitical landscape while prioritizing its economic stability and security.