Kim Jong-un “earned” $22 billion thanks to Russia’s war against Ukraine

North Korea could earn up to $22 billion in foreign revenue from 2022-2025 despite international sanctions, much of it from military cooperation with Russia, including the supply of ammunition and other weapons.

This is reported by Bloomberg .

According to Bloomberg Economics, North Korea’s total external revenues for 2022-2025 were almost 4 times higher than the previous 4-year period.

Analysts note that after the start of Russia’s full-scale invasion of Ukraine in 2022, Moscow turned to Pyongyang for ammunition. North Korea began supplying Russia with significant amounts of weapons, receiving money, food, and military technology in return.

According to estimates by the Center for Strategic and International Studies (CSIS), North Korea’s revenues from cooperation with Russia could amount to up to $14.02 billion. More than 90% of this amount, according to the researchers, fell on arms sales.

By the end of 2025, North Korea could supply up to 50% of Russia’s needs for commonly used 122 mm and 152 mm artillery ammunition. In addition, Pyongyang has sent between 16,000 and 22,000 troops to Russia.

Cooperation with Russia has also contributed to North Korea acquiring modern military technology. Over the past two years, the country has introduced two destroyers with a displacement of about 5,000 tons, which have become the largest warships of the DPRK.

Cyberattacks remain a separate source of revenue for Pyongyang. According to blockchain analytics firm TRM Labs, North Korea-linked hacking groups may now be responsible for more than 70% of cryptocurrency thefts worldwide, up from around 30% in 2017.

Bloomberg Economics notes that the exact amount of North Korea’s income is impossible to determine because the country does not publish economic statistics and its government, together with its partners, hides illegal trade. Therefore, the estimates given may either overestimate or underestimate real income.

According to the Bank of Korea, North Korea’s economy grew by 3.5% in 2025. This was the country’s 3rd consecutive year of economic growth.

Bloomberg analysts note that the increase in revenues has allowed the DPRK to strengthen its nuclear program, expand its military capabilities, and strengthen relations with Russia and China.

“North Korea is in a stronger position than at any time in the last 35 years,” said Korean studies expert Andrey Lankov.

At the same time, experts warn that a richer North Korea could potentially pose a greater threat to international security. Bloomberg notes that Pyongyang is increasingly dependent on traditional sources of foreign aid and has learned to circumvent international sanctions.

It was previously reported that Russia has likely received a new batch of North Korean ballistic missiles and may increase their use in attacks on Ukraine . This is indicated by the resumption of the use of missiles produced by the DPRK after a break of almost a year.

Recall that the eleventh congress of the Socialist Patriotic Youth League was held in Pyongyang, during which DPRK leader Kim Jong-un called on young people to support state policies and the country’s military goals. North Korea also linked the loyalty of young people to the DPRK’s participation in Russia’s war against Ukraine.

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