Russian President Vladimir Putin has reiterated Trump’s suggestion for Russia, the United States, and China to all cut their defence budgets by 50 per cent in the coming years.
Trump said it would be a good idea if all three nations, including Russia, the US, and China, would decrease spending on military infrastructure and focus on real development.
“I think it’s a good idea. The US would cut by 50 per cent and we would cut by 50 per cent and then China would join if it wants,” Putin said during an interview.
Earlier this month, Trump also floated the idea of a three-way meeting with the leaders of Russia and China.
“One of the first meetings I want to have is with President Xi of China and President Putin of Russia,” Trump said on February 13. “And I want to say, ‘Let’s cut our military budget in half.’ And we can do that. And I think we’ll be able to do it.”
Meanwhile, the United States still maintains the largest defence budget and is way ahead of the second biggest spender, China, in the world.
Additionally, Russia has also ramped up its military spending in its offensive in Ukraine in 2022, boosting economic growth and inflation.
Putin said last year that by 2024, defence and security spending would reach about 8.7 per cent of GDP.
He said on Monday he could not speak for China but Russia “could come to an agreement with the US on cutting spending; we’re not against it.”
“We think it’s a good proposal and we are ready for a discussion about this,” he concluded.
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Furthermore, on Monday, Putin proposed joint exploration of rare earth deposits with the United States, including those in Russian-occupied parts of Ukraine.
Russia was ready to work with its partners, including the US, in this matter, Putin said during an interview for state television.
He added that Russia holds some of the world’s largest deposits in the far north of the country, as well as in the Caucasus, Siberia, the Far East, and the illegally occupied territories of Ukraine, which he referred to as the “new territories.”
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