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Free AccessGermany Announces €500M Ukraine Arms Package
Germany has announced a new ~€500 million arms package to Ukraine parallel to a USD$3 billion package from the US expected to be officially confirmed today.
- More info on the US package here: https://marketnews.com/ap-us-to-announce-usd-3b-uk...
- The dramatic increase in German military aid comes after a summit today, in Ukraine, dedicated to upholding Ukraine's sovereignty over Crimea, which was annexed by Russia in 2014.
- The German announcement and pledges delivered at the summit from French President Emmanuel Macron and Polish President Andrzej Duda demonstrate a renewed appetite within the EU for supporting Ukraine.
- Politico wrote last week that, "Europe’s military support for Ukraine has been decreasing since April."
- Politico: "The revelation is a sign that despite historic shifts in European defense policy — which have seen once reluctant countries like France and Germany ship arms to Ukraine — military aid to Ukraine may be waning just as Kyiv launches a crucial counteroffensive."
- According to the German govt, "the total value of individual licenses issued by the Federal Government for the export of military goods in the period from January 1, 2022 to August 8, 2022 amounts to 686,440,038 EUR." (https://www.bundesregierung.de/breg-en/news/milita...)
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.