Germany considers reducing Ukraine support

» Published: July 18 2024

Germany considers reducing Ukraine support
Photo: Hannes P Albert/AP/TT

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Germany is considering halving its financial support to Ukraine, according to a budget draft that Reuters refers to on its website.

If the proposal were to be implemented, the support would decrease to 4 billion euros next year, from approximately 8 billion euros this year.

Germany expects that the reduced German support will be covered by funds in the form of loans to be financed by the yield on frozen Russian assets, something that the G7 countries have agreed on to secure funds for Ukraine.

The financing of Ukraine is secured for the foreseeable future thanks to European financing instruments and G7 loans, said the German Finance Minister, Liberal Christian Lindner, at a press conference on Wednesday, according to the news agency.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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