Denmark invests more than 600 million dollars in the Ukrainian defence industry

Denmark invests more than 600 million dollars in the Ukrainian defence industry

Denmark and Ukraine have signed an agreement on investments in Ukraine’s defence industry amounting to a total of 4.2 billion Danish kroner (628 million USD).

This was reported by the press service of the Danish Ministry of Defence.

As noted by the press service of the defense department, Ukrainian weapons and equipment will be delivered to the front thanks to funding from Denmark. For this purpose, the country will use income from frozen Russian assets.

Defence Minister Troels Lund Poulsen, together with his Ukrainian counterpart Rustem Umyerov and Minister of Strategic Industries Herman Smetanin, signed a letter of intent to continue cooperation on contracts with Ukrainian defence enterprises.

"This enhances the ability of Ukrainians to produce the weapons that are in demand," emphasized Troels Lund Poulsen.

Funding for the agreement will amount to 1.3 billion Danish kroner, which the government, with the support of the Danish Parliament, has allocated for these purposes. Additionally, 2.9 billion Danish kroner will come from frozen Russian assets, which Denmark will convert into cash on behalf of the EU.

"Denmark is a leader in providing weapons directly from the Ukrainian defense industry. This increases the ability of Ukrainians to produce precisely the weapons that are in demand," noted Troels Lund Poulsen.