The Russian Navy will acquire at least ten new Borey class strategic nuclear submarines in line with a revised state armament procurement program aimed at raising the submarine fleet as the core of the country's naval force in future, the Kommersant daily reported on Tuesday.
The revised document also envisions the procurement of ten Graney class nuclear attack submarines and 20 diesel-electric subs, including six Varshavyanka class vessels.
Prime Minister Vladimir Putin had said last year that procurement of new warships and submarines for the Navy would be a priority over the next decade. The government has allocated five trillion rubles ($166 billion) or a quarter of the entire armament procurement budget until 2020 for this purpose.
In addition to submarines, the Navy will receive 14 frigates, 35 corvettes, six Buyan class small artillery ships and six Ivan Gren Class large landing ships.
Deputy Prime Minister Dmitry Rogozin, who is also in charge of defense production, said on Monday Russia would evolve by June a detailed 30-year plan for strengthening its naval forces.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.