Ukraine seeks investments to strengthen defense capabilities – Shmyhal

Ukraine needs investments to bolster its defense capabilities, drawing on models like the "Danish model."

Ukrainian Prime Minister Denys Shmyhal said this at a meeting with European Council President Antonio Costa, EU High Representative for Foreign Affairs and Security Policy Kaja Kallas, and EU Enlargement Commissioner Marta Kos in Kyiv on Sunday, Ukrinform reports, citing the government's website.

Shmyhal described the visit as a powerful demonstration of the EU's unwavering support for Ukraine in its fight against Russian aggression. He highlighted the importance of consistent and timely financial aid from international partners, expressing gratitude for the EU's Ukraine Facility initiative and confirming that Ukraine is meeting its obligations under the program.

"We also thank you for your readiness to allocate part of the G7's $50 billion at the expense of frozen Russian assets. We expect the first tranche to be allocated in early January 2025," Shmyhal said.

He also emphasized that Ukraine needs enough weapons for victory, not just for deterrence. Therefore, defense support was an important topic of the conversation.

"Ukraine has significantly increased the capabilities of the defense industry. It is necessary to ensure the necessary investments, in particular, following the example of the 'Danish model,' in order to continue building up Ukraine's defense capabilities," Shmyhal said.

The parties discussed important details of the 15th package of EU sanctions. Shmyhal reiterated Ukraine’s expectation that all Russian sovereign assets within the EU would be confiscated and called for increased sanctions pressure on Russia. He stressed that these measures would send a clear message to Russia and the global community about the allies' commitment to Ukraine's victory.

Further, the discussion focused on Ukraine's European integration. The first negotiation clusters for EU accession are expected to open in early 2025. Shmyhal emphasized the importance of integrating Ukraine into the EU's internal market, particularly through trade liberalization.

"Our goal before Ukraine's accession to the EU is to maximize trade liberalization to levels no lower than the current autonomous trade preferences. Additionally, the ACAA agreement and integration into the EU's internal market for roaming services should serve as pilot projects for Ukraine's full legal alignment in industrial and telecommunications sectors," Shmyhal said.