Written By Lisa Murimi
Germany is set to significantly reduce its military aid to Ukraine next year, cutting the budget nearly in half from around €8bn (£6.7bn; $8.7bn) to approximately €4bn, according to a draft budget approved by the German government.
Finance Minister Christian Lindner assured that Ukraine’s financing remains secure for the foreseeable future, thanks to a G7 initiative to raise $50bn from interest on frozen Russian assets.
Despite the reduction, Germany will still allocate nearly €7.5bn to Ukraine in 2024, maintaining its position as Ukraine’s second-largest military donor after the United States.
The planned cut has raised concerns in Ukraine and among its European allies, especially considering the potential for a reduction or cessation of U.S. funds if Donald Trump wins the upcoming presidential election.
The draft budget, approved on Wednesday, also outlines an increase in Germany’s defence budget for 2025, raising it by €1.3bn to €53.25bn.
This figure, however, falls short of the €6bn additional funding sought by Defence Minister Boris Pistorius. Germany remains committed to meeting the NATO requirement of 2% of GDP spending on defence. The proposed budget is pending approval by lawmakers.
In other developments, Russia and Ukraine conducted a prisoner swap on Wednesday, exchanging 95 military personnel each, facilitated by the United Arab Emirates.
Additionally, Ukrainian troops have withdrawn from the village of Krynky, a strategic location on the eastern bank of the Dnipro river, though operations in the area continue.
Meanwhile, Britain’s new Prime Minister Sir Keir Starmer is set to host a summit with 45 European leaders, focusing on resetting relations with the continent and reaffirming support for Ukraine.
