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Germany to Halve Military Support to Ukraine in 2025

World
By 24matins.uk,  published 19 August 2024 at 18h06, updated on 19 August 2024 at 18h06.
World

Germany plans to fund its military support for Ukraine using proceeds from seized Russian assets, without allocating additional funds in its 2025 budget, which already includes 4 billion euros for this purpose. Will this be enough?

Adjustment of the 2025 Support Budget for Ukraine

In their 2025 budget plan, Germany is set to halve its military aid to Ukraine as part of a broader public spending cut aimed at preventing excessive national debt.

Current Situation

Germany, being the second-largest contributor after the USA, currently provides Ukraine with €8 billion in support. This figure is expected to decrease to €4 billion in 2025, with no additional aid planned for that year.

Impact and Justification

To offset this reduction, the German government anticipates the creation of a new financial instrument under the G7 and EU frameworks, utilizing frozen Russian assets.

Chancellor Olaf Scholz and Finance Minister Christian Lindner have agreed on this approach, despite tensions within the tripartite coalition. The strategy aims to continue supporting Ukraine while adhering to Germany’s constitutional “debt brake.”

Next Steps for the Budget Proposal

“The 2025 budget proposal is not yet final,” a parliamentary source remarked. The proposal will undergo discussions in Parliament with approval expected by the end of the year.

Meanwhile, Ukraine’s allies are hopeful to establish a mechanism that would convert a portion of the $300 billion in frozen Russian assets into a support loan for Kiev.

Le Récap
  • Adjustment of the 2025 Support Budget for Ukraine
  • Current Situation
  • Impact and Justification
  • Next Steps for the Budget Proposal
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