According to the latest figures, Russia’s defense spending for 2021 was just over 3.5 trillion rubles. However, this number doesn’t tell the whole story. The Russian military’s modernization program has led to increased procurement costs, with some reports suggesting that 21.8% of the budget goes towards procurement.

To replace the vehicles lost in Ukraine, Russia would need to spend roughly 288.2 billion rubles, or approximately $4.81 billion USD. Even if they were to double their procurement spending per year, it would take them 4 years and 9 months to replace all the lost vehicles. However, considering the need to upgrade existing equipment, such as the T-72b3 and T90, this timeline might be optimistic.

Another issue is that Russia’s defense industry is fragile, with higher levels of corruption and inefficiencies. The Russian government has had to heavily subsidize these companies with state-guaranteed credits, which can create problems. Additionally, the country’s economic situation is not ideal, with high inflation and unemployment rates.

The question is, can Russia afford to rebuild its military? With large public support for the military, Putin’s modernization efforts might be seen as a necessary step to regain its status as a major power. However, the real challenge lies in finding the resources to fund these efforts, given the economic constraints faced by the country. As the war in Ukraine continues, Russia will likely need to continue to rely on its domestic production and procurement, which may be a significant challenge.