Denmark expands support for Ukrainian defence industry

On 29 September, Minister for Strategic Industries German Smetanin, Minister of Defence of Ukraine Rustem Umerov and Minister for Defence of Denmark Troels Lund Poulsen signed a Letter of Intent. The Letter contains that Denmark will expand its financial support for the Ukrainian defence industry.

Denmark will finance the production of weapons in Ukraine to the tune of DKK 4.2 billion, which is USD 628 million. Of this amount, DKK 1.3 billion will come from the Danish state budget, and DKK 2.9 billion will come from frozen russian assets managed by Denmark on behalf of the EU.

"I am pleased that this agreement makes significant progress in our efforts to financially support Ukraine in acquiring arms directly from Ukrainian defence companies. Denmark has successfully led the way and now the EU has decided to substantially support these efforts. This makes it possible to attract much more financial resources. I hope that other countries will support Ukraine's fight for freedom in the same way," said Troels Lund Poulsen.

The list of weapons the production of which will be financed by partners has also expanded. These include ATGMs, UAVs and artillery systems.

"We are grateful to the Danish government and the people of Denmark for your assistance and for the fact that it does not stop. We are grateful for your leadership in supporting the Ukrainian defence industry. Your funds will allow us to put greater amount and faster weapons on the battlefield, and at the same time give the Ukrainian economy the strength to withstand this war. It is a great honour for us to have such allies as Denmark," said German Smetanin.

"Today we have taken an important step in strengthening Ukraine's defence capabilities. The Letter of Intent signed with Denmark will help attract almost EUR 600 million in investments in our defence industry. We are open to new models of cooperation with other European countries. Our goal is a strong defence industry and the restoration of Ukraine's territorial integrity," Rustem Umerov said.