Germany to Nearly Halve Military Aid for Ukraine Next Year
Germany is planning to significantly reduce its military aid for Ukraine next year, cutting it from around €8bn to around €4bn, according to a draft budget approved by the government. Finance Minister Christian Lindner stated that Ukraine’s financing is secure for the foreseeable future, thanks to a G7 scheme to raise $50bn from interest on frozen Russian assets.
Despite the planned aid cut, Germany remains Ukraine’s second biggest military donor, after the US. In 2024, Berlin’s budget for Kyiv is set at nearly €7.5bn. The decision to reduce aid comes amid concerns that US funds could be slashed or stopped if Donald Trump wins the presidency in November’s election.
Russian President Vladimir Putin’s full-scale invasion of Ukraine in February 2022 has heightened tensions in the region. The draft budget, approved by the German government on Wednesday, also includes a €1.3bn increase in the defence budget for 2025, bringing it to €53.25bn. This falls short of the €6bn that Defence Minister Boris Pistorius had been advocating for.
Germany is aiming to meet the Nato alliance’s requirement of spending 2% of GDP on defence. However, the defence budget still needs to be approved by lawmakers.
In other news, Russia and Ukraine recently exchanged 95 prisoners of war each, facilitated by the United Arab Emirates. Ukrainian troops have reportedly withdrawn from the village of Krynky in the southern Kherson region, a key foothold on the Russian-occupied eastern bank of the Dnipro river. Despite this withdrawal, Ukraine’s operations in the area are ongoing.
Meanwhile, Britain’s new Prime Minister Sir Keir Starmer is set to host 45 European leaders at a summit aimed at resetting London’s relationship with the continent. The European Political Community (EPC) summit will also provide an opportunity for leaders to reaffirm their support for Ukraine amidst the ongoing conflict with Russia.
