Russia to Invest $4.1 Billion in Cybersecurity by 2025

At the St. Petersburg Economic Forum, officials revealed that Russia’s cybersecurity market could hit 369 billion rubles this year. The country is ramping up defenses amid surging digital fraud and rising damage from cybercrime.

The future of cybersecurity took center stage at the St. Petersburg International Economic Forum, where leaders discussed growing threats and outlined new strategies for digital defense. Despite progress in replacing imported tech with domestic solutions, the level of cyber risk continues to climb.

According to the Center for Strategic Research (CSR), the Russian cybersecurity market was worth 248.5 billion rubles in 2023—a 28.5% increase over the previous year. By 2028, it is projected to reach 715 billion. Large companies are already spending an average of 294 million rubles annually on data protection, with the public and financial sectors leading the way.

Viktor Yevtukhov, who oversees the military-industrial complex under the Russian President’s Office, emphasized that cybersecurity is not just a corporate issue—it’s a matter of national importance. He called for legislation that treats data protection with the same rigor as physical security standards.

Meanwhile, Vladimir Voloshin of the Ministry of Economic Development suggested the creation of a ranking system to help organizations navigate the landscape of domestic cybersecurity products.

Between January and May 2025, over 308,000 cybercrimes were recorded, including 189,000 remote thefts. The total damage is up 20% year-over-year, reaching 81 billion rubles. According to Daniil Filippov of the Interior Ministry, attackers are exploiting data leaks and social engineering tactics to target victims.

Fintech panelists proposed building a centralized platform for information sharing among banks and payment systems. They also recommended that regular security audits become a mandatory industry practice.