EU says needs to invest 500bn Euros in defense in a decade

European Commission President Ursula von der Leyen has stated the European Union needs to invest 500 billion euros ($535 billion) in defense in the next ten years.

“Europe as a whole needs to step up on defense… We estimate that additional defense investments of around 500 billion euros are needed over the next decade,” Von der Leyen told a news conference in Brussels late Thursday.

She added that the EU has fallen far behind China and Russia in increasing defense spending in recent years.
The European Commission president said the funds could come both from additional national contributions by the EU member states and from the bloc’s own funds.

The leaders of the European Union at a summit meeting in Brussels have called for an increase in deliveries of military support to Ukraine, including missiles, ammunition and air defense systems, the Summit Conclusions document has shown.

“The European Council calls for the delivery of military support to Ukraine to be stepped up. In particular, air defense systems, ammunition and missiles are urgently needed,” the document read.

The summit also have called for the establishment of a new sanctions regime in response to Russia’s alleged “destabilizing actions abroad,” according to the statement.

“In response to Russia’s destabilizing actions abroad, the European Council reiterates its call for work to be taken forward in the Council to establish a new sanctions regime,” the Summit Conclusions document claimed.

Moscow has repeatedly warned NATO countries that by supplying arms to Ukraine, they are both prolonging the conflict and dangerously escalating it.

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