EU countries bordering Russia call on Brussels to allocate €100 billion for defense
Photo: The EU urged to double its defense spending (Getty Images)
The European Union urgently needs investments of at least 100 billion euros. According to four member states bordering Russia, the EU must double its defense spending, Bloomberg reports.
A document prepared by Lithuania, Estonia, Latvia, and Poland calls on the EU to use joint borrowing, allow the European Investment Bank to spend funds on essential defense needs, and cooperate with European partners outside the bloc — an apparent reference to the United Kingdom.
The countries leading the campaign to defend Ukraine from Russia's invasion cite estimates indicating that current military spending by EU member states will amount to approximately 326 billion euros in 2024. The document concludes that this figure must double if the bloc wants to achieve a target spending level of at least 3% of GDP and be prepared for "extreme military contingencies."
The EU is preparing a new defense strategy, and bloc leaders are set to hold an informal meeting on February 3 in Brussels to present their proposals.
This project is expected to be unveiled in March, with a final plan to be adopted by the end of the year. While most member states agree on the need to reassess Europe's defense capabilities, industry, and overall readiness, they have different views on achieving this.
Some countries, particularly Germany, have long opposed using joint borrowing for defense purposes. US President Donald Trump has stated that he wants NATO countries to spend 5% of GDP on defense — a level that even the United States does not currently meet.
European Commission President Ursula von der Leyen stated that the EU must invest at least 500 billion euros in defense over the next decade. However, the document notes that there are urgent needs that cannot wait until the next budget cycle in 2028.
The document from the four countries warns that Russia has already begun building up its military forces and is producing three times more artillery shells than Europe and the US combined. The bloc also faces other challenges, including supply chain dependencies on China and the deepening ties between Moscow, Beijing, Iran, and North Korea.
According to the document, the EU's requirements include at least 50 billion euros to increase artillery production and strategic stockpiles.
As a reminder, joint defense spending by 23 EU countries that are also NATO members has already reached the 2% target, following a 30% increase after Russia's invasion of Ukraine in February 2022.
European Council President António Costa has stated that the 23 EU members who are also NATO members will likely agree to raise the defense spending target beyond the current 2% of GDP at the June NATO summit.
