navies only matter if the world is stable and you can use the stability to float them anywhere as the world police. they're large and slow targets in actual modern warfare. even the houthis mogged your navy. they're just not worth the resources for the payoff that they provide, which is a potential blockade of like one port, which doesn't matter anymore because land transport is too cheap and developed. drones and artillery shells matter. they're the one thing that can wreck absolutely everything and always do it with the resupply cost being a fraction of whatever they're wrecking. the idea behind having a large navy was to be able to project these costs onto the economies of your rivals without losing anything at all, from a distance. no longer works. they're resilient even to sanctions and you need to get physical with them, which your overengineered equipment was not built for. on the other hand russia's equipment is underengineered and simple, which is like the most capitalist approach when it comes to fighting a conventional land war.
Bulgaria