Russia to Invest 58 Billion USD in New Space Project

Moscow (ANTARA) - Russian Prime Minister Mikhail Mishustin stated on Thursday that Russia will invest around 4.5 trillion roubles (approximately 58 billion USD) in a new national space project named Cosmos this year. In a cabinet meeting, Mishustin said the funding will be used to expand Russia’s satellite constellation, build a national orbital space station, and develop efficient reusable rockets, while adding that special attention will be given to training skilled personnel for the space sector. Mishustin emphasised that advancing the space industry is crucial for driving economic growth, enhancing the quality of life for the population, and ensuring national security. Russia will celebrate Cosmonautics Day on 12 April. The year 2026 also marks the 65th anniversary of Yuri Gagarin’s historic flight, the first human journey into outer space.