Norway boosts financial support to Ukraine with €4,3 billion
The Norwegian Parliament on Thursday agreed to more than double the financial support to Ukraine for 2025 as the United States continues to withdraw its support.
Norway's state budget for 2025 initially granted 35 billion Norwegian kroner (€2,98 bn) to Ukraine. Today's increase by 50 billion kroner boosts the total sum for this year to 85 billion (€7,24 bn).
Leaders from all political parties are supporting the massive increase to help Ukraine in its defense against aggressor Russia. A joint press conference in the Parliament clearly showed the all-out agreement among the politicians; from the Progress Right Party to the Socialists and Red Party left.
"We are increasing the support because there is a need," Prime Minister Jonas Gahr Støre (Labour Party) said.
"It is of great importance that a united political Norway stands behind such decisions that are important for our safety and security," Støre underlined.
He added: "We are facing the most serious security situation for Norway since World War II. This is a solid Norwegian contribution to peace and stability in Ukraine and in Europe."
The Prime Minister later wrote on X: "This strengthens Ukraine, supports a peace plan, and enhances European security."
"There might be a need for even more," said Ine Eriksen Søreide (Conservative Party). Søreide is head of the Standing Committee of Defense and Foreign Affairs. "It is important that we all stand together on this," she said.
Norway has from before made clear that its support to Ukraine has a long-term horizon. With today's additional allocation, the total contribution until 2030 will increase to 205 billion kroner (€17,5 bn).
It is Jens Stoltenberg, the former Secretary General of NATO, that is Minister of Finance in Norway. It was a proud, but serious, Stoltenberg that talked at the press conference after the parliamentarians met.
"It is important for Ukraine's defense, and it is important for our own security. The money will go entirely to international initiatives and purchases from the Ukrainian defense industry," Stoltenberg said.
Norway has the world's largest sovereign wealth fund, worth almost 20,000 billion kroner (€1,700 billion).
The news from Oslo comes only a few days after President Donald Trump announced that the U.S. is suspending military and other aid to Kyiv.
In Brussels, EU leaders on Thursday met for an emergency European Council summit. The meeting, which was attended by Ukrainian President Volodymyr Zelenskyy, discussed both how to increase the military support to Ukraine, and how to rearm Europe.
Earlier this week, European Commission President Ursula von der Leyen proposed an €800 billion plan on how to built up defense spendings across Europe.
