Denmark invests over $628 million in Ukraine's defense industry

Denmark and Ukraine have agreed on billions of dollars in investments in the Ukrainian defense industry totaling 4.2 billion Danish kroner ($628 million).

According to the press service of the Danish Defense Ministry, Ukrainian weapons and equipment will be delivered to the frontline with the help of funding from Denmark. For this purpose, Denmark uses the proceeds from frozen russian assets.

Defense Minister Threls Lund Poulsen, together with his Ukrainian counterpart Rustem Umerov and Minister of Strategic Industry German Smetanin, signed an agreement of intent to continue cooperation on contracts with Ukrainian defense companies.

“This strengthens the ability of Ukrainians to produce the weapons that are in demand,” emphasized Mr. Lund Poulsen.

The acquisition will be financed by DKK 1.3 billion that the government, with the support of the Danish Parliament, has allocated for this purpose and DKK 2.9 billion from frozen russian assets that Denmark is to cash out on behalf of the EU.

“Denmark is leading the way by donating arms directly from the Ukrainian defense industry. This strengthens the ability of Ukrainians to produce the weapons that are in demand,” said Troels Lund Poulsen.

Source: press service of the Danish Ministry of Defense