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Germany Announces €500M Ukraine Arms Package

SECURITY

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...)

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