War against Ukraine to cost Russia $1.3 trillion in lost growth — Secretary Austin

Russian military equipment destroyed
Russian military equipment destroyed

The war in Ukraine will end up costing Russia $1.3 trillion in lost economic growth by 2026, U.S. Defense Secretary Lloyd Austin said on March 19.

Speaking to reporters after another round of talks on sustained Western assistance to Ukraine, Austin specified that Moscow has already spent $211 billion in expenses for military procurement and troop training.

Read also: Russian forces destabilize Ukrainian defensive lines and prepare for summer offensive amid delays in Western security assistance

The secretary added that the $1.3 trillion figure is a projection of how much potential the Russian economy will end up losing if the war goes on into 2026.

Read also: Free world will not allow Ukraine's defeat - Austin

Finally, Austin urged continued Western security assistance to Kyiv to enable Ukraine to further degrade the Russian military’s fighting capacity.

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