President Vladimir Putin said on Friday that Russia was looking to cut its military expenditure from next year, contrasting that with NATO's plan to ramp up defence spending over the next decade. NATO allies on Wednesday agreed to raise their collective spending goal to 5% of gross domestic product in the next 10 years,

President Vladimir Putin said Russia plans to cut defense spending, acknowledging growing strains on the budget even as he insisted that reductions would depend on winning his war in Ukraine.