President Vladimir Putin oversaw the start of construction of one of Russia’s newest generation submarines on Monday and vowed to boost nuclear naval forces to safeguard the country’s position as a leading sea power.
“We believe that our country should maintain its status of one of the leading naval powers,” Putin told a meeting of naval commanders and government officials at the sprawling Sevmash shipbuilding yard in northern Russia.
Putin is working to make the submarines and the missiles they will carry a cornerstone of the Russian navy, which will receive nearly a quarter of the 20 trillion roubles ($621.31 billion) to be spent by the end of the decade.
After nearly two decades characterized by a lack of funding, Russia is pushing to modernize its fighting forces, and redesign its armaments.
Deputy Prime Minister in charge of the defense industry, Dmitry Rogozin, also said on Monday that Moscow was likely to ask state-controlled banks to finance 200-to-300 billion roubles annually in credits as part of the overall plan.
Full article: Russia to get stronger nuclear navy, Putin says (Reuters)