In a new review of Ukraine’s support, the Kiel Institute of World Economics notes that financial aid to Ukraine appears to be secured after the final approval of the EU’s €50B financial aid for Ukraine.
At the same time, the dynamics of military aid have slowed down. From November 1, 2023, to January 15, 2024, new military aid commitments from 40 countries amounted to €9.8B. In comparison, in the same period last year commitments amounted to €27B, of which €21B came from the US.
It is currently unknown whether the US will provide further military assistance in 2024. Since February 2022, the US have allocated about €43B (€2B per month).
“Europe will have to double its current military support efforts, at least, if the US does not provide further assistance. This is a challenge but, ultimately, a matter of political will. EU countries are among the richest in the world, but they have not spent even 1% of their GDP on supporting Ukraine,” stated the head of the research group, Christoph Trebesch.