The Russians are using billions of dollars of oil profits to rearm, just as British defence chiefs prepare for cuts in the summer's Government spending review, the Conservatives have warned.
Liam Fox, the party's defence spokesman, sounded the alarm about "the growing and accelerating rearmament in Russia" in a House of Commons debate.
He claimed that President Vladimir Putin's government is planning to spend $183 billion (£94 billion) over the next nine years — or $1.7 billion (£900 million) a month — on its armament programme.
His warning of a Russian resurgence comes amid increasing concerns about the 'overstretch' of Britain's Armed Forces and cutbacks in the defence budget in this summer's Comprehensive Spending Review. The weapons shopping spree between 2007 and 2015 could push Russia's spending towards Cold War levels.
Dr Fox, who visited Eastern Europe earlier this year, said that weapons on order include:
• 69 Topol-M missiles with between 70 and 200 nuclear warheads;
• five nuclear ballistic missile submarines;
• 60 Bulava intercontinental ballistic missiles, with 400 to 600 warheads;
• 1,400 tanks;
• 4,100 infantry fighting vehicles;
• 3,000 armoured personnel carriers;
• 1,000 combat aircraft and helicopters;
• 60 theatre quasi-ballistic missile systems.
He warned that Russia had been covertly rearming while "the eyes of the West have been elsewhere".
Dr Fox added that while the UK is planning to invest in the next generation of the Trident nuclear deterrent "the Russians are already investing heavily in more warheads".
Russia has been careful to manage its expenditure using its oil and gas reserves. The country's central bank now has gold reserves of almost $65 billion, and currency reserves of $259 billion.
Dr Fox said: "Every $1 rise in the price of a barrel of oil provides another $1 billion for the Russian exchequer."
He continued: "It goes hand in hand with its increasing willingness to use natural resources, and fossil fuels in particular, to achieve political ends."
Signs of this growing aggression have been seen in Russia's energy rows with the Baltic states and with Ukraine, Georgia, and Belarus.
Despite Dr Fox's warning, a Government spokesman said: "Russia is a key partner across issues including Iran, the Middle East peace process and the fight against terrorism. We are in close touch with Russia bilaterally and through international organisations including the G8."
Earlier this week relations between Russia and the West took a downturn after Moscow expressed outrage at US plans to station interceptor missiles in eastern Europe.
Gen Yuri Baluyevsky, the chief of staff, said that Russia was now considering withdrawing from the Intermediate-Range Nuclear Forces treaty.
The treaty was viewed as a landmark in ending the Cold War, when it was signed in 1988 by Ronald Reagan and Mikhail Gorbachev.
"We shall see how our American partners act," said Gen Baluyevsky. "What they are doing at the moment is totally inexplicable."
Mr Putin has rejected explanations that the missile defence shield, which will be located in the Czech Republic and Poland, is a deterrent against Iran and North Korea.
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