Media reports said as much as $700 billion could be allocated to Europe's defenses, though it was not clear how much of that amount would go to Kyiv.

Summary

European officials are preparing a multibillion-dollar defense package to bolster regional security and support Ukraine, announced by German Foreign Minister Annalena Baerbock at the Munich Security Conference.

The package, potentially valued up to 700 billion euros, will fund military training, arms deliveries, and security guarantees amid concerns over Russian aggression and diminishing U.S. contributions to NATO.

The move follows calls for Europe to boost its own defense spending while U.S.-Russian talks, which exclude Ukraine and Europe, on ending the Ukraine conflict continue.

  • Riddick3001English
    42•3 days ago

    It’s a bit premature to announce this, but yes VonderLeyen has announced the preparation of a defense package of approx. 700 B via this legal fiscal venue. Together with the EU Competitiveness Compass plan at around a minimum of 750 B, they will likely be aimed to reinforce each other. In addition, other parallel plans are being prepared, pending current developments.

    added: Context: EU defense is now at 326 B in 2024 (consilium EU). Though Europe also includes UK and other countries ofcourse.

    This newly announced extra package is like a minimum extra budget.