Amid its second year of its latest offensive in Ukraine, Russia outspent all European nations on defense spending.

Russia’s invasion of Ukraine has sent its defense spending skyrocketing, and is raising fears it will attack NATO next.

Russia’s military spending exceeds the total defense budgets of all European countries. Last year, the Kremlin’s military expenditures grew by more than 40%, the Financial Times reports. The outlet notes that Russia’s military spending,

Russia’s military spending, driven by President Vladimir Putin’s efforts to put the country’s economy on a war footing, has now surpassed the combined defense budgets of all European nations, according to a new study.

Russia’s military spending in 2024, when adjusted for purchasing power parity (PPP), exceeded that of the European Union and the United Kingdom combined by nearly $5 billion, the International Institute for Strategic Studies (IISS) said Wednesday.