Russia to invest 58 billion USD in new space project in 2026

Russia will invest about 4.5 trillion rubles (about 58 billion U.S. dollars) in new national space project Cosmos this year, Prime Minister Mikhail Mishustin said Thursday.



Mishustin said at a cabinet meeting that the funding will be used to expand Russia's satellite constellation, build a national orbital space station, and develop efficient reusable rockets, adding that special attention will be given to training skilled personnel for the space sector.



Mishustin stressed that advancing the space industry is important for boosting economic growth, improving people's quality of life, and ensuring national security.



Russia will celebrate Cosmonautics Day on April 12. The year 2026 also marks the 65th anniversary of the historic flight of Yuri Gagarin, the first human to travel into outer space.