- Germany plans to halve military aid for Ukraine
- It will be reduced from around €8 billion to approximately €4 billion
- This change is part of a draft budget approved by the German government
- Despite the cut, the FM assured that Ukraine’s financing is secure, thanks to a G7 initiative aiming to raise $50 billion from interest on frozen Russian assets
Germany plans to halve military aid for Ukraine
Germany is set to nearly halve its military aid to Ukraine next year, reducing it from around €8 billion to approximately €4 billion. This change is part of a draft budget approved by the German government. Despite the cut, Finance Minister Christian Lindner assured that Ukraine’s financing is secure, thanks to a G7 initiative aiming to raise $50 billion from interest on frozen Russian assets.
Currently, Germany is Ukraine’s second-largest military donor after the US, with a 2024 budget for Kyiv set at nearly €7.5 billion. However, the reduction in aid comes amid concerns that US support could diminish if Donald Trump wins the presidential election in November.
#RussiaUkraineWar: Germany shocks allies with plans to halve Ukraine aid@ErikNjoka joined by @DBDesRoches, Professor, Near East South Asia Center for Strategic Studies, for perspective
— WION (@WIONews) July 17, 2024
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Despite the planned decrease in aid to Ukraine, Germany’s overall defence budget for 2025 will see an increase of €1.3 billion, bringing it to €53.25 billion. This amount is still less than the €6 billion increase Defense Minister Boris Pistorius had sought.
Germany aims to meet NATO’s target of spending 2% of its GDP on defence. The proposed defence budget will need to be approved by lawmakers before it is finalised.