North Korea made $22 billion arming Russia – nearly four times its haul before the war

Since Russia's full-scale invasion of Ukraine in 2022, North Korea has earned approximately $22 billion in foreign revenue, nearly quadruple its earnings from the preceding four years and the highest amount ever amassed during Kim Jong Un's 15-year rule, as per Bloomberg Economics estimates. The funds are utilized to sustain Russia's war efforts, while Pyongyang receives essential supplies, sustenance, and military technology in return.

This shift has transformed North Korea from an isolated outcast into a nuclear power, no longer required to negotiate with external entities.

Half of Russia's artillery ammunition requirements, particularly for 122mm and 152mm shells, were met by North Korea by the end of 2025, according to Ukrainian intelligence estimates. The figures have been tracked by Euromaidan Press since the shipments commenced in 2023. North Korea bolstered this support with manpower, allocating approximately 16,000 soldiers who received roughly $2,000 per month each, plus additional compensation for their losses.

The pivotal moment occurred in 2022. Kim had endured humiliation prior to the war, struggling with a failed summit with Donald Trump, a poor harvest that led to hunger, and a self-imposed closure on trade with China during the COVID-19 pandemic. Kim had wept during a 2020 national address, apologizing for the state of the economy. With Russia's stockpiles dwindling, North Korea's warehouses emerged as a valuable resource that could be converted into hard currency.

The consequences of this trade have been twofold. On one hand, Russia provided advanced military technology, including air defenses such as the Pantsir-class system and a Pantsir-M worth around $20 million, which is now stationed on one of North Korea's new 5,000-tonne destroyers, the largest warships ever built by the nation. Additionally, the two countries have initiated the joint production of attack drones.

On the other hand, North Korea has capitalized on the windfall to bolster its nuclear arsenal, potentially rivaling France's arsenal, according to Bloomberg. The country's economy grew by 3.5% in 2025, marking its third consecutive year of expansion, as reported by the Bank of Korea. The prosperity does not solely rely on the war's continuation.

Over the past decade, North Korea has established a prolific network of crypto thieves, with hacking groups linked to Pyongyang accounting for over 70% of global cryptocurrency thefts, a significant rise from approximately 30% in 2017, as per blockchain intelligence firm TRM Labs. The stolen funds are laundered primarily through Chinese organized-crime networks, which receive a share in exchange for clean offshore accounts.

Kim is strategically diversifying his diplomatic efforts, hosting officials from Singapore, Indonesia, Belarus, and Vietnam over the past year to reduce his dependence on Russia. Despite once being regarded as an erratic recluse, Kim is now emerging as the resilient leader of a rapidly growing nuclear power, with little incentive to engage in negotiations. Pyongyang has demonstrated its capacity to adapt to persistent sanctions and has forged alliances in its resistance against international laws and norms.