A British think tank says Russia has lost about half of its best tanks in the year since it invaded Ukraine due to a strategy based on a poor understanding of its armed forces.

The International Institute for Strategic Studies released its Military Balance report on Wednesday.

It says Russian forces displayed lower standards of tactical competence, command, leadership and logistics than their Ukrainian counterparts.

The report points out that Russia has lost around half of its fleet of modern T-72 tanks, forcing it to use older Soviet-era models.

It also says the sinking of the flagship Moskva of the Russian Black Sea Fleet, along with the loss of modern fighter jets and helicopters, have placed the Russian navy and air force in an unfavorable situation.

On defense spending in 2022, the institute says the United States topped the list at 766.6 billion dollars, constituting nearly 40 percent of the global total.

China came in second, at 242.4 billion dollars. This was a 7 percent nominal increase from the previous year and the largest annual increase in absolute terms. The think tank says the modernization of China's military is a concern for the US in the long-term.