Latest news with #PriorityUkraineRequirementsList
Indian Express
6 days ago
- Business
- Indian Express
Netherlands to start NATO's new Ukraine weapons finance scheme with $578 mln payment
The Netherlands will be the first contributor to NATO's new 'Priority Ukraine Requirements List' (PURL) financing mechanism for Ukraine weapons with a 500 million euros ($578 million) payment, the Dutch defence minister said on Monday. 'Ukraine needs more air defence and ammunition now. As the first NATO ally, the Netherlands will deliver a €500 million package of US weapon systems (including Patriot parts and missiles),' Dutch Defense Minister Ruben Brekelmans said in a statement on X. 'This helps Ukraine to defend itself and the rest of Europe against Russian aggression,' he added. In a statement posted on the Dutch defence ministry website, the ministry said that other countries have also pledged financing under the new mechanism. The defence ministry said that under the new scheme, Ukraine can draw on US military equipment stocks if these are funded by NATO allies. The United States is releasing military aid in packages worth approximately $500 million, it said, adding that the packages consist of air defence equipment, ammunition and other essential supplies tailored to Ukraine's needs. US President Donald Trump said last month the US would supply weapons to Ukraine, paid for by European allies, but did not provide details on how this would work. Reuters reported on Friday that NATO countries, Ukraine, and the US were developing a new Ukraine weapons financing mechanism.
Straits Times
6 days ago
- Business
- Straits Times
Netherlands to start NATO's new Ukraine weapons finance scheme with $578 million payment
Sign up now: Get ST's newsletters delivered to your inbox Military equipment are pictured as the Dutch government presents plans to increase spending on defence to 2% of GDP in the wake of the Russia-Ukraine conflict, in Amersfoort, Netherlands, September 5, 2024. REUTERS/Piroschka van de Wouw/File Photo AMSTERDAM - The Netherlands will be the first contributor to NATO's new "Priority Ukraine Requirements List" (PURL) financing mechanism for Ukraine weapons with a 500 million euros ($578 million) payment, the Dutch defence minister said on Monday. "Ukraine needs more air defence and ammunition now. As the first NATO ally, the Netherlands will deliver a €500 million package of US weapon systems (including Patriot parts and missiles)," Dutch Defense Minister Ruben Brekelmans said in a statement on X. "This helps Ukraine to defend itself and the rest of Europe against Russian aggression," he added. In a statement posted on the Dutch defence ministry website, the ministry said that other countries have also pledged financing under the new mechanism. The defence ministry said that under the new scheme, Ukraine can draw on US military equipment stocks if these are funded by NATO allies. The United States is releasing military aid in packages worth approximately $500 million, it said, adding that the packages consist of air defence equipment, ammunition and other essential supplies tailored to Ukraine's needs. U.S. President Donald Trump said last month the U.S. would supply weapons to Ukraine, paid for by European allies, but did not provide details on how this would work. Reuters reported on Friday that NATO countries, Ukraine, and the U.S. were developing a new Ukraine weapons financing mechanism. REUTERS
New Straits Times
02-08-2025
- Business
- New Straits Times
US, NATO developing novel funding mechanism for Ukraine weapons transfers
WASHINGTON: The United States and NATO are working on a novel approach to supply Ukraine with weapons using funds from Nato countries to pay for the purchase or transfer of US arms, according to three sources familiar with the matter. The renewed transatlantic cooperation on Ukraine comes as US President Donald Trump has expressed frustration with Moscow's ongoing attacks on its neighbor. Trump, who initially took a more conciliatory tone toward Russia as he tried to end the more than three-year war in Ukraine, has threatened to start imposing tariffs and other measures if Moscow shows no progress toward ending the conflict by Aug 8. The president said last month the US would supply weapons to Ukraine, paid for by European allies, but did not indicate how this would be done. Nato countries, Ukraine, and the United States are developing a new mechanism that will focus on getting US weapons to Ukraine from the Priority Ukraine Requirements List, known under the acronym PURL, the sources said. Ukraine would prioritise the weapons it needs in tranches of roughly $500 million, and Nato allies — coordinated by Nato Secretary General Mark Rutte — would then negotiate among themselves who would donate or pay for items on the list. Through this approach, Nato allies hope to provide $10 billion in arms for Ukraine, said a European official, speaking on condition of anonymity. It was unclear over what timeframe they hope to supply the arms. "That is the starting point, and it's an ambitious target that we're working towards. We're currently on that trajectory. We support the ambition. We need that sort of volume," the European official said. Nato declined to comment. The White House, Pentagon, and Ukrainian embassy in Washington did not respond to requests for comment. Russian forces are gradually advancing against Ukraine, and control one-fifth of Ukraine's territory. FASTER ARMS RESTOCKING If a Nato country decides to donate weapons to Ukraine, the mechanism would allow that country to effectively bypass lengthy US arms sales procedures to replenish its own stocks, said one US official, speaking on condition of anonymity. But the Nato country would have to pay the US up front for the speedier replenishment. The money would be paid into a US-held account, possibly at the US Treasury Department, or to an escrow fund, although the exact structure remains unclear, the official said. Nato countries also have the option of simply paying the United States to send weapons directly to Ukraine. In that case, the payment could be made via Nato or directly to the US Department of Defense, said a second source, speaking on condition of anonymity. This would be in addition to the United States' own effort to identify arms from US stockpiles to send to Ukraine under the Presidential Drawdown Authority, which allows the US president to draw from current weapons stocks to help allies in an emergency. At least one tranche of weapons for Ukraine is currently being negotiated under the new mechanism, two sources said, though it was unclear if any money has yet been transferred. Trump's fellow Republicans in Congress have introduced legislation, known as the Peace Act, that aims to create a fund at the US Treasury in which allies can deposit money that would pay to replenish US military equipment donated to Ukraine. Ukraine's needs remain consistent with previous months — air defenses, interceptors, systems, rockets, and artillery.
GMA Network
02-08-2025
- Business
- GMA Network
US, NATO developing novel funding mechanism for Ukraine weapons transfers
Ukrainian service members walk next to a launcher of a Patriot air defense system, amid Russia's attack on Ukraine, in an undisclosed location, Ukraine August 4, 2024. REUTERS/Valentyn Ogirenko/File Photo WASHINGTON - The US and NATO are working on a novel approach to supply Ukraine with weapons using funds from NATO countries to pay for the purchase or transfer of US arms, according to three sources familiar with the matter. The renewed transatlantic cooperation on Ukraine comes as US President Donald Trump has expressed frustration with Moscow's ongoing attacks on its neighbor. Trump, who initially took a more conciliatory tone toward Russia as he tried to end the more than three-year war in Ukraine, has threatened to start imposing tariffs and other measures if Moscow shows no progress toward ending the conflict by August 8. The president said last month the US would supply weapons to Ukraine, paid for by European allies, but did not indicate how this would be done. NATO countries, Ukraine, and the United States are developing a new mechanism that will focus on getting US weapons to Ukraine from the Priority Ukraine Requirements List, known under the acronym PURL, the sources said. Ukraine would prioritize the weapons it needs in tranches of roughly $500 million, and NATO allies - coordinated by NATO Secretary General Mark Rutte - would then negotiate among themselves who would donate or pay for items on the list. Through this approach, NATO allies hope to provide $10 billion in arms for Ukraine, said a European official, speaking on condition of anonymity. It was unclear over what timeframe they hope to supply the arms. "That is the starting point, and it's an ambitious target that we're working towards. We're currently on that trajectory. We support the ambition. We need that sort of volume," the European official said. A senior NATO military official, also speaking on condition of anonymity, said the initiative was "a voluntary effort coordinated by NATO that all allies are encouraged to take part in". The official said the new scheme included a NATO holding account, where allies could deposit money for weapons for Ukraine, approved by NATO's top military commander. NATO headquarters in Brussels declined to comment. The White House, Pentagon, and Ukrainian embassy in Washington did not respond to requests for comment. Russian forces are gradually advancing against Ukraine, and control one-fifth of Ukraine's territory. Faster arms restocking If a NATO country decides to donate weapons to Ukraine, the mechanism would allow that country to effectively bypass lengthy US arms sales procedures to replenish its own stocks, said one US official, speaking on condition of anonymity. Money for the arms would be transferred into a US-held account, possibly at the US Treasury Department, or to an escrow fund, although the exact structure remains unclear, the official said. The new mechanism would be in addition to the United States' own effort to identify arms from US stockpiles to send to Ukraine under the Presidential Drawdown Authority, which allows the US president to draw from current weapons stocks to help allies in an emergency. At least one tranche of weapons for Ukraine is currently being negotiated under the new mechanism, two sources said, though it was unclear if any money has yet been transferred. Trump's fellow Republicans in Congress have introduced legislation, known as the PEACE Act, that aims to create a fund at the US Treasury in which allies can deposit money that would pay to replenish US military equipment donated to Ukraine. Ukraine's needs remain consistent with previous months - air defenses, interceptors, systems, rockets, and artillery. The last statement of need from Ukraine came in a July 21 video conference of the country's allies, known as the Ramstein group, now led by Britain and Germany. —Reuters
The Star
01-08-2025
- Business
- The Star
US, NATO developing novel funding mechanism for Ukraine weapons transfers
WASHINGTON (Reuters) -The United States and NATO are working on a novel approach to supply Ukraine with weapons using funds from NATO countries to pay for the purchase or transfer of U.S. arms, according to three sources familiar with the matter. The renewed transatlantic cooperation on Ukraine comes as U.S. President Donald Trump has expressed frustration with Moscow's ongoing attacks on its neighbor. Trump, who initially took a more conciliatory tone toward Russia as he tried to end the more than three-year war in Ukraine, has threatened to start imposing tariffs and other measures if Moscow shows no progress toward ending the conflict by August 8. The president said last month the U.S. would supply weapons to Ukraine, paid for by European allies, but did not indicate how this would be done. NATO countries, Ukraine, and the United States are developing a new mechanism that will focus on getting U.S. weapons to Ukraine from the Priority Ukraine Requirements List, known under the acronym PURL, the sources said. Ukraine would prioritize the weapons it needs intranches of roughly $500 million, and NATO allies - coordinated by NATO Secretary General Mark Rutte - would then negotiate among themselves who would donate or pay for items on the list. Through this approach, NATOallies hope to provide $10 billion in arms for Ukraine, said a European official, speaking on condition of anonymity. It was unclear over what timeframe they hope to supply the arms. "That is the starting point, and it's an ambitious target that we're working towards. We're currently on that trajectory. We support the ambition. We need that sort of volume," the European official said. NATO declined to comment. The White House, Pentagon, and Ukrainian embassy in Washington did not respond to requests for comment. Russian forces are gradually advancing against Ukraine, and control one-fifth of Ukraine's territory. FASTER ARMS RESTOCKING If a NATO country decides to donate weapons to Ukraine, the mechanism would allow that country to effectively bypass lengthy U.S. arms sales procedures to replenish its own stocks, said one U.S. official, speaking on condition of anonymity. But the NATO country would have to pay the U.S. up front for the speedier replenishment. The money would be paid into a U.S.-held account, possibly at the U.S. Treasury Department, or to an escrow fund, although the exact structure remains unclear, the official said. NATO countries also have the option of simply paying the United States to send weapons directly to Ukraine. In that case, the payment could be made via NATO or directly to the U.S. Department of Defense, said a second source, speaking on condition of anonymity. This would be in addition to the United States' own effort to identify arms from U.S. stockpiles to send to Ukraine under the Presidential Drawdown Authority, which allows the U.S. president to draw from current weapons stocks to help allies in an emergency. At least one tranche of weapons for Ukraine is currently being negotiatedunder the new mechanism, two sources said, though it was unclear if any money has yet been transferred. Trump's fellow Republicans in Congress have introduced legislation, known as the PEACE Act, that aims to create a fund at the U.S. Treasury in which allies can deposit money that would pay to replenish U.S. military equipment donated to Ukraine. Ukraine's needs remain consistent with previous months - air defenses, interceptors, systems, rockets, and artillery. The last statement of need from Ukraine came at the July 21 Ramstein conference led by EU allies, including Britain. (Reporting by Gram Slattery, Mike Stone, Phil Stewart in Washington; additional reporting by Patricia Zengerle in Washington and Andrew Gray in Brussels; editing by Michelle Nichols and Rod Nickel)
