The Russian invasion of Ukraine is unleashing a brand new period of navy spending throughout Europe. Member nations of the North Atlantic Treaty Group, comparable to Germany, have achieved an about-face on its protection funds in current weeks.
“The Russian invasion of Ukraine was a wake-up name for lots of Germans, for politicians and for voters, who beforehand would have been skeptical that navy energy might nonetheless be an essential instrument of affect in Europe as we speak,” stated Sophia Besch, senior analysis fellow on the Middle for European Reform, in an interview with CNBC.
Poland has moved to extend protection spending to three% of GDP. Germany has signed a deal to purchase F-35 fighter jets, and a number of other NATO allies wish to improve from Soviet-era tools, comparable to MiG-29s and Russian-produced surface-to-air missile techniques, to US-made weapons. The US, the highest navy donor within the NATO alliance by far, is rising its personal protection funds whereas promoting high-tech arms to pleasant nations.
Watch the video above to learn how the Russian invasion of Ukraine might set off a surge in navy spending throughout Europe.