EU sanctions significant increase in defense budget
Under the ReArm Europe Plan, the bloc is set to invest approximately $840 billion in enhancing its military capabilities.
TroibNews 
As part of the ReArm Europe Plan, the EU is set to allocate approximately $840 billion to enhance its military capabilities.
The block has approved a substantial military funding initiative aimed at bolstering defense capabilities. This decision came during an emergency summit in Brussels on Thursday and also seeks to support Ukraine following the suspension of American military assistance to the country.
The plan, known as ReArm Europe, is expected to increase the EU’s defense spending by up to €800 billion, effectively doubling the bloc's total defense expenditures in 2024. European Commission President Ursula von der Leyen announced this initiative earlier this week, stating she would present legal proposals in the next two weeks.
The leaders of the 27 EU countries have agreed to relax budget restrictions to allow for increased military investments. They urged the European Commission to investigate new mechanisms “to facilitate significant defense spending at the national level across all Member States,” as outlined in an official statement.
The EU's executive branch estimates that the initiative could potentially unlock around €650 billion, although it's uncertain whether governments will fully take advantage of this financial flexibility.
In addition, the bloc's leaders acknowledged a European Commission proposal for a €150 billion loan package designed for investments that include air and missile defense, artillery, and drones. They urged EU headquarters staff “to examine this proposal as a matter of urgency.”
The emergency summit was called due to rising concerns among EU leaders regarding the implications of the United States’ recent policy shift on Ukraine. US President Donald Trump has indicated that European nations should take a more proactive role in their own defense and in supporting Kiev.
Von der Leyen asserted that the EU “is ready to assume its responsibilities,” characterizing the current geopolitical landscape as the “most momentous and dangerous” of times.
French President Emmanuel Macron, who remarked in a speech that Russia poses a threat to the EU, emphasized that this is merely a preliminary move. He stated, “Whatever happens in Ukraine, we need to build autonomous defense capacities in Europe,” during a press conference following the summit.
Meanwhile, Moscow has consistently rejected assertions that it poses a military threat to Europe, labeling statements from Warsaw and Paris as “highly confrontational” and “militaristic.” Russian President Vladimir Putin dismissed Western allegations of an imminent attack as “nonsense,” accusing European leaders of exaggerating the threat to justify heightened military spending. He reiterated that Russia does not aspire to engage in an arms race but will take necessary measures to safeguard its security and that of its allies.
Frederick R Cook contributed to this report for TROIB News
The block has approved a substantial military funding initiative aimed at bolstering defense capabilities. This decision came during an emergency summit in Brussels on Thursday and also seeks to support Ukraine following the suspension of American military assistance to the country.
The plan, known as ReArm Europe, is expected to increase the EU’s defense spending by up to €800 billion, effectively doubling the bloc's total defense expenditures in 2024. European Commission President Ursula von der Leyen announced this initiative earlier this week, stating she would present legal proposals in the next two weeks.
The leaders of the 27 EU countries have agreed to relax budget restrictions to allow for increased military investments. They urged the European Commission to investigate new mechanisms “to facilitate significant defense spending at the national level across all Member States,” as outlined in an official statement.
The EU's executive branch estimates that the initiative could potentially unlock around €650 billion, although it's uncertain whether governments will fully take advantage of this financial flexibility.
In addition, the bloc's leaders acknowledged a European Commission proposal for a €150 billion loan package designed for investments that include air and missile defense, artillery, and drones. They urged EU headquarters staff “to examine this proposal as a matter of urgency.”
The emergency summit was called due to rising concerns among EU leaders regarding the implications of the United States’ recent policy shift on Ukraine. US President Donald Trump has indicated that European nations should take a more proactive role in their own defense and in supporting Kiev.
Von der Leyen asserted that the EU “is ready to assume its responsibilities,” characterizing the current geopolitical landscape as the “most momentous and dangerous” of times.
French President Emmanuel Macron, who remarked in a speech that Russia poses a threat to the EU, emphasized that this is merely a preliminary move. He stated, “Whatever happens in Ukraine, we need to build autonomous defense capacities in Europe,” during a press conference following the summit.
Meanwhile, Moscow has consistently rejected assertions that it poses a military threat to Europe, labeling statements from Warsaw and Paris as “highly confrontational” and “militaristic.” Russian President Vladimir Putin dismissed Western allegations of an imminent attack as “nonsense,” accusing European leaders of exaggerating the threat to justify heightened military spending. He reiterated that Russia does not aspire to engage in an arms race but will take necessary measures to safeguard its security and that of its allies.
Frederick R Cook contributed to this report for TROIB News
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