RIYADH: Russia's invasion of Ukraine has catapulted defence spending up the political agenda in Europe and could herald a new era of purchases led by Germany, according to weapons makers gathering at an arms fair in Saudi Arabia this week.
Germany, which has long played down the role of its military in foreign policy, Denmark and Poland have all said they will ramp up defence spending with war at their doorstep. The German budget this year will allocate €100 billion for a one-time increase in defence spending, Scholz said on Feb 27, which is more than double the entire 2021 defence bill of €47 billion.
Others argued EU states, after years of Russian aggression like the 2014 annexation of Crimea, were already paying more attention to security and this war would just ramp plans up."The defence role is changing dramatically," an European executive said, predicting higher spending not only because of the war but also because former US President Donald Trump's"American First" policy underscored the need for self-reliance.
Made in America. Pentagon heaven
Raytheon & Lockheed Martin waving. USA is the big winner in this Ukraine chaos...🤑🤑🤑🤑🤑