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Putin Bids Farewell to Shoigu as Defense Minister in Surprise Shakeup

Russian President Vladimir Putin said he doesn’t plan to change the military leadership of his country’s armed forces after replacing his defense minister earlier this week. Putin made the comments during a televised meeting with commanders where he presented the new defense minister, Andrey Belousov. With Russian forces on the offensive in Ukraine’s northeastern Kharkiv region and the war in its third year, Putin reiterated Belousov’s main task is to make sure higher defense spending is used “wisely and efficiently.” Russia’s spending on defense and national security is projected to reach 8.7% of gross domestic product this year, compared with 13% in the mid-1980s during Soviet times, Putin said. Read more: https://www.bloomberg.com/news/articl... -------- Subscribe to our YouTube channel: https://trib.al/KM4k5RA Subscribe to Bloomberg Originals: https://trib.al/dJv9Uw8 Bloomberg Quicktake brings you global social video spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. Connect with us on… YouTube:    / bloomberg   Breaking News on YouTube:    / @bloombergquicktakenow