That’s certainly something to consider. Although out of all the EU countries, Portugal is surely one of the least threatened by Russia? Only Ireland or Iceland is more remote.
I would guess countries like Poland are likely to institute a draft long before Portugal does.
If we are at the point where Portugal is drafting people to fight a war, you’re not avoiding it no matter where you go, I have to imagine.
Certainly a data point to consider, but I think given the probabilities, not something that would sway my decision.
I think in most cases where a country has military conscription it primarily applies to citizens living in the country. That has certainly been my experience.
Of course, some of the more extreme cases (such as Israel), do require it for all citizens, even if they live abroad. At least on paper. Although a quick Google search tells me that in practice, even the IDF often won’t conscript those living permanently abroad.
I personally wouldn’t worry about my kid needing to do military service in Portugal solely based on holding the passport.