Ukraine aims to expand domestic arms production to 50% of needs within 6 months
Domestic defense manufacturing already accounts for almost 40% of weapons used by the Ukrainian military, according to Zelenskyy. As uncertainty grows about how many more weapons shipments Western countries can provide — and how quickly — Ukraine is keen to increase its output and widen its strikes on Russian soil.
'What we need is greater capacity to push the war back onto Russia's territory — back to where the war was brought from,' Zelenskyy said late Wednesday in his nightly video address.
'We must reach the level of 50% Ukrainian-made weapons within the first six months of the new government's work by expanding our domestic production.'
The need to adequately arm Ukraine's military is pressing as Russia looks to drive forward its summer offensive and pounds Ukrainian cities with hundreds of drones and ballistic and cruise missiles.
Meanwhile, it remained unclear when promises of U.S.-made weapons, especially Patriot missile systems crucial for stretched Ukrainian air defenses, might reach Ukraine. U.S. President Donald Trump agreed to send the weaponry, but it will be paid for by European countries.
NATO's Supreme Allied Commander Europe, Gen. Alexus Grynkewich, told the Associated Press Thursday that 'preparations are underway' for weapons transfers to Ukraine and that NATO is working 'very closely' with Germany to transfer Patriot systems.
Grynkewich said at a military event in Wiesbaden, Germany, that he had been ordered to 'move (the weapons) out as quickly as possible.' He said the number of weapons being transferred is classified.
'We're already in preparation phase for the first tranche of capability to start moving with respect to Patriots,' he said.
An expert working group under Grynkewich is to discuss concrete planning 'very quickly but also with corresponding caution,' German Defense Ministry spokesperson Mitko Müller said Wednesday.
He said that the 'exact modalities' are still being worked out, as are the 'modalities of what systems will be supplied.'
He added: 'Regarding the systems that we are talking about, I can't confirm that anything is currently on the way. I'm not aware of that.'
NATO chief Mark Rutte said in Washington on Monday that the alliance is coordinating the military support with funding from allies in Europe and Canada. He said there were commitments from Germany, Finland, Denmark, Sweden, Norway, the United Kingdom, the Netherlands and Canada 'with more expected to follow.'
Ukraine has also developed its own long-range drones, which it uses to strike deep inside Russia .
Russian air defenses shot down 122 Ukrainian drones overnight, the country's defense ministry said Thursday. The wave of drones caused flights to be grounded at airports in Moscow and St Petersburg, although most of the drones were reportedly destroyed over the border regions of Bryansk and Kursk.
___
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Could Buying Lockheed Martin Stock Today Set You Up for Life?
Key Points The medium-term outlook for defense spending is positive, with both the U.S. and other NATO countries looking to ramp up investment. Lockheed Martin is well positioned to benefit from President Trump's defense budget. The company's execution issues have troubled it in recent years, and many defense companies have faced margin pressures. 10 stocks we like better than Lockheed Martin › There's a lot to like about defense giant Lockheed Martin's (NYSE: LMT) stock, but is it enough to make it an investment that investors can feel comfortable with, knowing it will generate life-changing long-term returns? The bulls' case for Lockheed Martin The investment case for the stock is relatively easy to understand. It's based on the enduring need for defense equipment and services, as well as its increasing importance in an age of geopolitical conflict. Not only is President Donald Trump seeking to ramp up the defense budget to a record $1.01 trillion, but NATO has also been enlarged, and its members have recently agreed to invest 5% of their gross domestic product (GDP) on core defense requirements as well as defense and security-related spending by 2035. Moreover, much of the spending, at least in the U.S., focuses on missile defense and tactical missiles, which Lockheed Martin specializes in. Indeed, discussing the matter on an earnings call in April, CEO Jim Taiclet said, "Our 21st century security strategy, where we integrate existing and new satellites, aircraft, ships, missile launchers, and command and control systems with constantly upgradable digital technologies, was tailor-made for [missile defense system] Golden Dome." Furthermore, Lockheed Martin's current backlog of $173 billion represents 2.3 years' worth of sales based on the midpoint of management's guidance for full-year 2025 revenue. It's also worth noting that its core customer, the U.S. government, is a highly reliable payer. Turning to valuation, the midpoint of management's guidance range calls for $23.15 in earnings per share and $6.7 billion in free cash flow (FCF). Based on the current price, it would put the stock at 17.2 times earnings and 16.3 times FCF. They are attractive valuations for a company with such solid growth prospects. So is it that case closed? As usual, investing is rarely that simple. The bears' case for Lockheed Martin The negative case for the stock can be seen in three interrelated arguments: Lockheed Martin's execution challenges in recent years, notably with its most important single program, the F-35 Lightning II Joint Strike Fighter, have damaged confidence in its ability to produce "long-run franchise" programs. Lockheed Martin, like many other defense contractors, including Boeing and RTX, has struggled to achieve margin expansion in recent years, as the U.S. government has become more adept at negotiating contracts, particularly through the use of fixed-price contracts. The current environment is highly conducive to defense spending, but that doesn't guarantee that it will be the case in the future. Lockheed Martin's execution and margin challenges The company's execution challenges are encapsulated in two events this year. First, a Department of Defense description of the proposed 2026 defense budget included reducing F-35 procurement. There's little doubt why procurement has been reduced. The DOD is focusing on making existing F-35s mission-capable (able to perform a core mission) rather than procuring new planes. According to just 51.5% of F-35s were mission-capable in 2024. High-profile delays and issues on the Technology Refresh 3 (TR3) on the F-35 have reduced that percentage. In addition, the cost overrun on the F-35 has been so significant that the military is now considering flying it less to reduce costs. These issues damage confidence in Lockheed Martin, not least as it faces upfront costs on programs in expectation of turning them into "long-run franchises." As such, there are questions about its ability to grow margins in the future. The second issue is the loss of the next-generation air dominance (NGAD) contract to Boeing, a decision highly likely to have been influenced by the issues with the F-35. Long-term defense spending This isn't the place to enter a detailed debate over the sustainability of government spending. Still, it's worth noting that if you are buying defense stocks based on the security of long-term growth in spending from the U.S. government (which currently accounts for two-thirds of NATO spending), then you will be comfortable with the following chart of U.S. public debt to GDP and the idea that the possibility of rising debt levels won't constrain spending on defense and other matters in the future. In addition, it's extremely difficult to predict where global defense priorities will be over the next few years, let alone a lifetime. Is Lockheed Martin stock a buy? On balance, defense stocks appear slightly undervalued; however, Lockheed Martin's issues with the F-35 may not make it the best way to capitalize on a positive medium-term outlook for defense spending. As such, Lockheed Martin isn't likely to be a stock that investors can make a life-changing investment in. Should you buy stock in Lockheed Martin right now? Before you buy stock in Lockheed Martin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Lockheed Martin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $652,133!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,056,790!* Now, it's worth noting Stock Advisor's total average return is 1,048% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 15, 2025 Lee Samaha has no position in any of the stocks mentioned. The Motley Fool recommends Lockheed Martin and RTX. The Motley Fool has a disclosure policy. Could Buying Lockheed Martin Stock Today Set You Up for Life? was originally published by The Motley Fool
Los Angeles Times
4 hours ago
- Los Angeles Times
New York agrees to settle lawsuit with ex-aide who accused Andrew Cuomo of sexual harassment
The state of New York has agreed to pay $450,000 to settle a lawsuit from an ex-aide to former Gov. Andrew Cuomo who alleged he sexually harassed and groped her while he was in office. The former aide, Brittany Commisso, had sued Cuomo and the state, alleging sexual harassment from the then-governor and retaliation against her after reporting the incidents. The allegations were part of a barrage of similar misconduct claims that forced Cuomo to resign as governor in 2021. Commisso's lawyers said that the settlement announced Friday 'is a complete vindication of her claims' and that she is 'glad to be able to move forward with her life.' The settlement came as Cuomo is in the midst of a so-far bruising political comeback with a run for mayor of New York City. Cuomo lost the Democratic primary to Zohran Mamdani by more than 12 percentage points, and this week he relaunched his campaign to run in the general election as an independent candidate, beginning a potentially uphill battle in a heavily Democratic city where support is coalescing behind Mamdani. Cuomo, who has denied wrongdoing, has been dogged by the scandal during his campaign for mayor. 'The settlement is not a vindication, it is capitulation to avoid the truth,' Cuomo's lawyers said Friday in a statement in which they called Commisso's allegations false. The attorneys, Rita Glavin and Theresa Trzaskoma, added that they 'oppose the dismissal of Ms. Commisso's lawsuit.' 'Until the truth is revealed, the lawsuit should not be dismissed,' they said in the statement. Cuomo resigned as governor after a report from the state attorney general determined that he had sexually harassed at least 11 women, with some alleging unwanted kissing and touching, as well as remarks about their appearances and sex lives. Commisso filed her lawsuit in late 2023, just before the expiration of the Adult Survivors Act, a special law that created a yearlong suspension of the usual time limit to sue over an alleged sexual assault. She later filed a criminal complaint accusing Cuomo of groping her but a local district attorney declined to prosecute, citing lack of sufficient evidence. The Associated Press doesn't identify people who say they have been sexually assaulted unless they decide to tell their stories publicly, as Commisso has done. Anthony Hogrebe, a spokesperson for current Gov. Kathy Hochul, said Friday that the state 'is pleased to have settled this matter in a way that allows us to minimize further costs to taxpayers.' Izaguirre writes for the Associated Press.
Los Angeles Times
4 hours ago
- Los Angeles Times
Congo and Rwanda-backed rebels sign declaration to end conflict in eastern Congo
DAKAR, Senegal — The Democratic Republic of Congo and Rwanda-backed rebels on Saturday signed a declaration of principles in Qatar to end decades-long fighting and commit to a comprehensive peace agreement that would include the restoration of state authorities in key eastern cities controlled by the insurgents. Congo and the M23 rebels committed to 'building trust' through various measures, including an exchange of prisoners and detainees as well as restoring state authority in all parts of the country, including rebel-held areas, Mohammed bin Abdulaziz bin Saleh Al-Khulaifi, Qatar's minister of state, said at a briefing. It was not immediately clear whether the declaration involves M23's withdrawal from cities it controls, as the two parties seemed to interpret the agreement differently. Bertrand Bisimwa, an M23 leader, said on X that the declaration is 'not a question of withdrawal but of mechanisms for empowering the state, enabling it to assume its prerogatives and obligations.' M23 spokesman Lawrence Kanyuka told the Associated Press in a telephone call, 'We are in Goma with the population and we are not going to get out.' But Congolese government spokesman Patrick Muyaya said the declaration takes into account 'the nonnegotiable withdrawal' of the rebels, followed by the deployment of government forces and institutions. Backed by neighboring Rwanda, M23 is the most prominent of more than 100 armed groups fighting for control in Congo's mineral-rich east. With 7 million people displaced in the country, the United Nations has called the conflict in eastern Congo 'one of the most protracted, complex, serious humanitarian crises on Earth.' Saturday's signing is the first direct commitment by both sides since the rebels seized two key cities in eastern Congo in a major advance early this year. A final peace deal is to be signed no later than Aug. 18, and it 'shall align with the Peace Agreement between Congo and Rwanda,' facilitated by the U.S. in June, according to a copy of the declaration seen by AP. M23 had been pushing for the release of its members held by Congo's military, many of them facing a death sentence. Congo had requested the withdrawal of the rebels from seized territories. 'The Declaration of Principles signed today paves the way for direct negotiations towards a comprehensive peace that addresses the deep-rooted causes of the conflict,' the Qatari minister said. Rwanda's Foreign Affairs Ministry called it 'a significant step forward' in ending the conflict. The U.S. State Department said in a statement that the United States remains committed to supporting 'a peace that results in the restoration of [Congolese] authority and inclusive governance' in the region. In Goma, the city at the center of the conflict, locals received the news of the signing with mixed feelings, with most expressing doubts over the possibility of a lasting peace without a provision for victims of the decades-long conflict. 'We cannot build peace without justice and reparation,' said Amani Muisa, a Goma resident. The document touches on most of the highlights of the peace deal Congo and Rwanda signed June 27, including the protection and safe return of millions who fled the conflict. Massad Boulos, a senior advisor to President Trump who attended the Doha-led talks, said Saturday: 'It is time to find a final solution' to the conflict, reiterating that the most important article of the agreement is the affirmation of state control in rebel-held territories. 'The issue requires dialogue, and following up on this dialogue, and requires persistence,' Boulos said. Another key issue the two sides will have to face is whether Rwanda will stop supporting the rebels, including the thousands of troops that U.N. experts said are in eastern Congo. When Rwanda and Congo signed the peace deal in Washington, Rwandan Foreign Minister Olivier Nduhungirehe said Rwanda agreed to lift its 'defensive measures' — suggesting a reference to its troops in eastern Congo — once Congo neutralizes an armed group whose members Kigali accuses of carrying out the 1994 genocide in Rwanda. Analysts have said that it is going to be difficult for the M23 rebels to withdraw from the eastern Congolese cities of Goma and Bukavu and that it would depend on concessions the Congolese authorities agree to make. There have also been doubts about long-lasting peace if justice for the victims of the war is not addressed. Asadu writes for the Associated Press. AP journalists Ahmed Hatem in Cairo, Jean-Yves Kamale in Kinshasa, Congo, and Justin Kabumba in Goma contributed to this report.
