October 29, 2024October 29, 2024

Northern Europe interested in investing in Ukraine's defence industry

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The Prime Ministers of Iceland, Denmark, Norway and Sweden have expressed interest in further cooperation with the Ukrainian defence industry at the Ukraine-Northern Europe summit on Monday, 28 October.

Source: a joint declaration from the Ukraine-Northern Europe summit, published by the President’s Office of Ukraine, as reported by European Pravda

Details: The Nordic countries emphasised their interest in “further development of cooperation with Ukraine’s defence industry”.

Quote: “The Nordic countries have so far pledged EUR 195 million in procurements through Ukraine’s defence industry. Extraordinary revenues from immobilised Russian assets could be one possible source for funding such initiatives.”

They also reaffirmed their determination to continue supporting and strengthening the defence capabilities of Ukraine’s Armed Forces “in their fight for security and peace in Europe”.

They also expressed support for Ukraine’s Victory Plan and promised to work on strengthening Ukraine’s position ahead of the second Peace Summit “towards a just and lasting peace”.

Background:

In June, Ukraine and Denmark signed a memorandum for the procurement of weapons and equipment from Ukrainian manufacturers by the Nordic country. Denmark became the first country to take such a step.
On Monday, 28 October, the Swedish government announced its decision to allocate €20 million to support Ukraine’s industrial base.

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