By Andrew Gray, Sabine Siebold, Lili Bayer and Ana Cantero BRUSSELS/MADRID (Reuters) -NATO members agreed on Sunday to a big increase in their defence spending target to 5% of gross domestic product,

Spain reached a deal with NATO to be excluded from a 5% of GDP defense spending target, days before the military alliance's leaders will gather at a summit, Prime Minister Pedro Sánchez said on Sunday.

NATO leaders are set to approve a major defence spending hike, committing members to spend 5% of GDP on military and security investments by 2035—up from the current 2%. The move is driven by Russia’s aggression and US pressure.