But NATO must consider the investments that Russia has made and their implications for the future. Moscow has already paid to ramp up defense production and shift hundreds of thousands of people into its defense industrial complex. After the war, such spending will continue at a high rate, even if it is reduced from wartime levels. And despite efforts to block its access to technology, Russia continues to acquire components and machine tools that are good enough for many defense applications. In 2026, Russian defense spending is projected to reach $180 billion. Because Russia pays for much of its procurement in rubles rather than dollars, when accounting for purchasing power parity, the effective amount it will spend is about $400 billion to $500 billion. This is how Moscow has been able to sustain the war, expand defense production, and contract over 400,000 soldiers per year since 2023.