Latest news with #UkraineFund
Yahoo
18-05-2025
- Business
- Yahoo
Denmark announces nearly $600 million in military aid to Ukraine
Denmark has prepared its 26th military aid package for Ukraine, worth 4 billion Danish kroner (approximately $598 million), the Danish Defense Ministry announced on May 17. The package includes additional artillery and shells via the Czech ammunition initiative as well as equipment for fighter jets, the ministry said. A portion of the funds will also go towards increasing training capacity for Ukrainian forces. "Unfortunately, Ukraine's need for help and support has not diminished. I am happy and proud that we can once again allocate funds for donations that will make a difference on the battlefield in both the short and long term," Danish Defense Minister Troels Lund Poulsen said. Denmark's latest military aid package is financed under the country's Ukraine Fund and the European Peace Facility (EPF). The assistance covers the years 2025-2028. The additional funds to the Czech initiative will allow Ukraine to better plan for a stable supply of ammunition, the ministry said. "Denmark is doing what we can to give Ukraine the best possible hand both on the battlefield and in the negotiating room," Danish Foreign Minister Lars Loekke Rasmussen said. Denmark has pioneered efforts to support Ukraine by investing in its defense industry, creating the so-called "Danish model" of purchasing arms for Kyiv from Ukrainian producers. Copenhagen has provided around $9.8 billion in military aid under its Ukraine Fund for the years 2023-2028. Read also: Ukraine war latest: Russia launches record 273-drone attack on Ukraine ahead of planned Trump-Putin call We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Yahoo
18-05-2025
- Business
- Yahoo
Denmark announces long-term military aid package for Ukraine worth US$628m
Denmark's Ministry of Defence has unveiled the details of its 26th military aid package for Ukraine, totalling approximately DKK 4.2 billion (about US$628.4 million). Source: Danish Ministry of Defence, as reported by European Pravda Details: The 26th package, which is planned for the period 2025 to 2028, is funded by Denmark's Ukraine Fund and the EU's European Peace Facility. Under the package, Ukraine will receive additional artillery systems and shells financed as part of the Czech-led ammunition procurement initiative. The Danish Defence Ministry stated that additional funding allocated to the Czech-led initiative in 2025 could finance another batch of artillery shells, helping Ukraine ensure stable artillery ammunition supplies. In addition, Ukraine will receive equipment for combat aircraft, expanded training support and other forms of assistance. "Unfortunately, Ukraine's need for aid and support has not diminished," said Danish Defence Minister Troels Lund Poulsen. "I am pleased and proud that we can again provide funding for assistance that will make a difference on the battlefield both in the short and long term." Denmark has allocated a total of 66.1 billion kroner for military aid to Kyiv under the Ukraine Fund for the years 2023-2028. Background: The previous, 25th military aid package – valued at US$970 million – was announced by Denmark in early April. In early May, Ukrainian President Volodymyr Zelenskyy discussed further investments in Ukraine's defence industry with Danish Prime Minister Mette Frederiksen. Support Ukrainska Pravda on Patreon!
Yahoo
09-04-2025
- Business
- Yahoo
EU to transfer €2.1bn from frozen Russian assets to Ukraine
The European Union will soon receive the second transfer of funds generated from the proceeds of frozen Russian assets, which will then be paid to Ukraine. Source: European Commission, as reported by European Pravda Details: This week, the EU requested €2.1 billion in windfall revenues from frozen assets of the Russian Central Bank held in central securities depositories. This will mark the second such transfer, following the initial tranche disbursed in July 2024. It covers income accumulated during the second half of 2024. These funds originate from the Russian Central Bank's assets frozen due to EU sanctions imposed in response to Russia's ongoing war of aggression against Ukraine. Although the assets themselves remain frozen, the revenues they generate are being used to support Ukraine. The proceeds from this tranche will be channelled through the European Peace Facility, as agreed by the EU Council in 2024, and the Ukraine Fund to strengthen Ukraine's defence capabilities and contribute to the country's recovery and reconstruction. This measure is part of the EU's unwavering commitment to support Ukraine for as long as needed. Future tranches will primarily be allocated to ensure Ukraine can repay funds received under the G7-led Extraordinary Revenue Acceleration for Ukraine (ERA) loans initiative, while a limited portion will continue to be disbursed via the European Peace Facility. Background: On 9 April, the European Union transferred a €1 billion loan tranche to Ukraine as part of the ERA initiative, backed by proceeds from frozen Russian assets. In 2024, the G7 agreed to jointly provide Ukraine with a US$50 billion loan secured by Russian assets. The funds are formally issued as a loan but will be repaid using the revenues from the frozen Russian assets. Support Ukrainska Pravda on Patreon!
