Berliner Boersenzeitung - UK's Sunak announces raised defence spending, new Ukraine aid

EUR -
AED 4.061288
AFN 70.775509
ALL 90.675389
AMD 400.593084
ANG 1.979064
AOA 1015.183574
ARS 1708.689254
AUD 1.6238
AWG 1.992216
AZN 1.880291
BAM 1.955252
BBD 2.233504
BDT 137.931316
BGN 1.955701
BHD 0.418392
BIF 3352.950594
BMD 1.105865
BND 1.425139
BOB 12.98036
BRL 6.239403
BSD 1.108899
BTN 104.23618
BWP 15.384824
BYN 3.340963
BYR 21674.951068
BZD 2.230305
CAD 1.576787
CDF 2560.077255
CHF 0.924055
CLF 0.02795
CLP 1100.036756
CNY 7.376837
CNH 7.379746
COP 3669.027342
CRC 500.670901
CUC 1.105865
CUP 26.614536
CVE 110.235579
CZK 24.378766
DJF 197.477294
DKK 7.475381
DOP 67.281739
DZD 151.458523
EGP 59.102172
ERN 16.587973
ETB 181.069955
FJD 2.51341
FKP 0.835281
GBP 0.835641
GEL 2.872921
GGP 0.835281
GHS 12.985358
GIP 0.835281
GMD 81.833968
GNF 9825.333246
GTQ 8.473738
GYD 232.004932
HKD 8.674719
HNL 29.819906
HRK 7.533992
HTG 145.30319
HUF 365.255751
IDR 20155.824523
ILS 3.530469
IMP 0.835281
INR 103.991162
IQD 1681.158908
IRR 2116072.3914
ISK 136.607831
JEP 0.835281
JMD 175.670732
JOD 0.784095
JPY 176.866527
KES 143.740232
KGS 96.706658
KHR 4569.842318
KMF 493.216096
KPW 995.278698
KRW 1473.056454
KWD 0.342508
KYD 0.924158
KZT 492.54077
LAK 24955.001149
LBP 99305.448906
LKR 368.776573
LRD 188.519685
LSL 18.483616
LTL 3.265332
LVL 0.668926
LYD 7.151091
MAD 10.923037
MDL 20.227327
MGA 5061.580435
MKD 61.537741
MMK 2322.205462
MNT 3985.6272
MOP 8.959349
MRU 44.849435
MUR 52.573033
MVR 17.034284
MWK 1922.960689
MXN 20.562092
MYR 4.516682
MZN 70.667158
NAD 18.48395
NGN 1486.612123
NIO 40.808924
NOK 10.570298
NPR 166.776734
NZD 1.994333
OMR 0.425208
PAB 1.108989
PEN 3.78104
PGK 5.058673
PHP 70.514353
PKR 306.65217
PLN 4.403999
PYG 6874.165321
QAR 4.042521
RON 5.346967
RSD 117.592172
RUB 91.566428
RWF 1638.140569
SAR 4.173939
SBD 8.954518
SCR 15.436416
SDG 665.178718
SEK 11.081778
SGD 1.422645
SHP 0.828643
SLE 25.323557
SLL 23189.436572
SOS 633.722267
SRD 41.474377
STD 22889.169671
STN 24.493574
SVC 9.703454
SYP 14378.455163
SZL 18.470987
THB 37.44403
TJS 10.23007
TMT 3.870527
TND 3.338009
TOP 2.662657
TRY 55.693675
TTD 7.533024
TWD 36.332083
TZS 2941.18135
UAH 50.391167
UGX 4563.720064
USD 1.105865
UYU 44.947597
UZS 13274.277111
VES 995.820793
VND 28371.515669
VUV 133.071731
WST 3.090736
XAF 655.957
XAG 0.021908
XAU 0.000282263193
XCD 2.988655
XCG 1.998576
XDR 0.781904
XOF 655.957
XPF 119.331742
YER 261.533097
ZAR 18.528085
ZMK 9954.105304
ZMW 22.649955
ZWL 356.088031
SSP 6576.037102
MXV 2.309749
  • CMSD

    -0.1200

    19.81

    -0.61%

  • JRI

    0.0000

    10.77

    0%

  • BCC

    -1.8200

    74.15

    -2.45%

  • CMSC

    -0.2228

    19.53

    -1.14%

  • BCE

    0.2000

    20.34

    +0.98%

  • RIO

    0.0100

    94.17

    +0.01%

  • AZN

    -2.7400

    161.47

    -1.7%

  • GSK

    -1.1800

    48.17

    -2.45%

  • RBGPF

    0.0000

    65

    0%

  • NGG

    0.8800

    75.82

    +1.16%

  • RYCEF

    -0.7300

    19.08

    -3.83%

  • BTI

    -0.4500

    54.4

    -0.83%

  • BP

    0.4700

    43.99

    +1.07%

  • RELX

    -0.0600

    33.18

    -0.18%

  • VOD

    -0.1800

    16.15

    -1.11%

UK's Sunak announces raised defence spending, new Ukraine aid
UK's Sunak announces raised defence spending, new Ukraine aid / Photo: HENRY NICHOLLS - POOL/AFP

UK's Sunak announces raised defence spending, new Ukraine aid

UK Prime Minister Rishi Sunak Tuesday announced additional funding for Ukraine and pledged to increase Britain's own defence budget, during a visit to the Polish capital Warsaw.

Text size:

Sunak said Britain was giving £500 million ($617 million) in additional military funding for Kyiv as he held talks with Polish premier Donald Tusk and NATO chief Jens Stoltenberg.

Sunak said London would gradually boost defence spending to 2.5 percent of GDP by 2030.

"In a world that is the most dangerous it has been since the end of the Cold War, we cannot be complacent," Sunak told reporters in Warsaw.

The increase in spending from 2.3 percent will see the UK become one of the top spenders on defence in the 32-member NATO defence alliance after the United States, the British government said.

NATO countries are facing pressure to raise defence expenditure in the face of global threats, particularly from Russia and the possibility of an escalation in the Middle East.

Announcing the move, Sunak spoke of "an axis of authoritarian states", singling out Russia, Iran, North Korea and China.

"I believe we must do more to defend our country, our interests, and our values," Sunak said, adding the increase in spending would be "the biggest strengthening of national defence for a generation".

It means the UK is expected to spend £87 billion on defence in 2030-31, an increase of £23 billion over current levels.

- Missiles, armoured vehicles -

On Tuesday, Sunak also announced £500 million additional funding for Ukraine's war effort against Russia.

Ukraine has for months faced a growing shortage of ammunition, with Europe struggling to provide weaponry as Ukrainian forces get pushed back along the front line.

US lawmakers eased the pressure last weekend by unblocking a $61-billion military aid package for Kyiv following six months of political wrangling.

EU defence and foreign ministers insist that Europe must speed up its deliveries of arms to Ukraine.

Germany has answered Kyiv's call in recent days by saying it would send an extra Patriot air defence system to Ukraine.

Stoltenberg said last week that he expected more NATO countries to make announcements on fresh air defences for Kyiv "soon".

During his trip, Sunak announced the UK's "largest-ever single package of equipment" for Ukraine's war effort, including more than 1,600 strike and air defence missiles and additional Storm Shadow long-range precision-guided missiles.

He also pledged more than 400 vehicles, including armoured ones, and nearly four million rounds of small arms ammunition.

- Sky Shield -

Ukraine has asked especially for seven more advanced Patriot systems capable of shooting down Russia's hypersonic missiles -- but is keen to get any help it can.

Six nations in the EU -- Germany, Greece, the Netherlands, Poland, Romania and Spain -- have the US-designed systems.

Sunak will now travel to Germany where he will meet Chancellor Olaf Scholz in Berlin on Wednesday.

The German government has led a push to bolster NATO's air defences in Europe amid Russia's relentless missile strikes on Ukraine.

Berlin has urged allies to buy deterrence systems together and the UK is among some 20 countries to have signed up to Germany's common air defence project, the European Sky Shield Initiative.

EU chief Ursula von der Leyen recently warned EU leaders to boost defence spending.

Brussels is set to come up with more proposals for financing the defence push by a summit of EU leaders in June.

It has put forward a 1.5-billion-euro ($1.6-billion) strategy to step up defence production, but officials say this is nowhere near sufficient.

(G.Gruner--BBZ)