Norway has more than doubled its funding for Ukraine for 2025 to approximately €7 billion ($7.8 billion).
Norwegian Prime Minister Jonas Gahr Støre announced the decision on Thursday after a meeting between parliamentary leaders, where the funding for Ukraine this year is set to be raised by 50 billion Norwegian kroner ($4.6 million) to 85 billion Norwegian kroner ($7.8 billion).
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Støre said the decision was made “because there is a need for it.”
“We are increasing support because there is a need for it, and it is a solid contribution to peace and stability in Europe,” Støre said, Norwegian news outlet NRK reported.
Norwegian Finance Minister and former NATO Chief Jens Stoltenberg said the funding is within the limit, which NRK said is 3% of Norway’s oil revenue per year.
“At the same time, I am pleased that we can do this within reasonable financial limits. We are doing it within the rules of engagement, even with this additional funding. It is important that we stay within reasonable financial limits,” Stoltenberg said.
Earlier at the meeting, Støre said the recent security situation, caused by Russia’s invasion of Ukraine, has been the “most serious security situation for [Norway] since World War II.”
However, Støre said he believes there are ways to work with US President Donald Trump despite the latter’s signal to roll back the US’s military presence in Europe.
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“Our impression is that the American president and his circle are also open to listening and discussing, even if the tone in the media is confrontational,” Støre said.
Norway earlier denied reports that it is halting fuel sales to the US after a Norwegian oil firm called for the boycott of oil sales to the US Navy following a disastrous meeting between Trump and Ukrainian President Volodymyr Zelensky.
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