Germany to Suspend New Financial and Military Aid to Ukraine
Germany and other G7 countries have agreed to utilize $300 billion of Russia's sovereign assets to secure a $50 billion loan for Ukraine, though the specifics of the plan remain unresolved. Germany, which has been a significant supplier of military aid to Ukraine, is leading these negotiations. However, the German government has announced that it will not provide new financial aid to Ukraine in the near future due to budget constraints.
Current budget plans show that Germany will provide €8 billion in aid to Ukraine this year, with the amount set to be halved to €4 billion next year. Finance Minister Christian Lindner indicated that new measures for Ukraine aid would only be implemented if future funding is secured. Internal tensions within Germany's ruling coalition have deepened over these budget issues, with disagreements over military aid and other spending priorities.
Germany's austerity measures have led to a freeze on additional requests from the Ministry of Defense. This affects not only Ukraine aid but also other defense orders such as artillery ammunition, drones, and spare parts. The German government plans to fund future support for Ukraine from frozen Russian assets and a new international financing instrument worth $50 billion.
Despite the current financial constraints, previously approved military aid to Ukraine, including the Patriot air defense system and other equipment, will still be delivered. The ruling coalition continues to debate the allocation of funds, with some members expressing disappointment over the reduction in aid amidst Ukraine's ongoing conflict.
