Poland to prioritise joint EU defence funding during its presidency, urging unity on security as a shared European goal. Ministers to explore funding options in April.
Poland will prioritise joint EU financing for defence during its upcoming presidency of the 27-nation bloc, highlighting security as a shared European responsibility, Finance Minister Andrzej Domanski announced on Wednesday.
The European Commission estimates that enhancing EU defence capabilities could cost over €500 billion within the next decade.
In April, EU finance ministers will meet in Warsaw to explore funding models. Domanski emphasised the need for a unified European approach, particularly for large-scale projects like a European air defence system, which require both funding and international cooperation.
He also called for greater efficiency, criticising Europe’s 12 separate tank systems as excessive. Potential financing solutions include leveraging the EU’s long-term budget for new borrowing, similar to the €800 billion COVID-19 recovery fund, or establishing a special purpose vehicle (SPV) with paid-in capital, akin to the European Stability Mechanism. The SPV option could involve non-EU nations, such as Britain and Norway, and keep control with governments rather than the European Commission.
Germany’s legal constraints on joint debt and the need for unanimous agreement among EU members present challenges. The financing needs will become clearer after EU Defence Commissioner Andrius Kubilius publishes a report in March outlining key priorities. However, discussions remain preliminary, with Domanski acknowledging that it is too early to decide on a specific model.
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Norway's King Harald and Queen Sonja visited the Arctic archipelago of Svalbard on Monday, marking 100 years of Norwegian sovereignty amid growing global interest in the polar region.
Israel launched a strike on Saturday targeting Iran’s energy sector for the first time in its current military campaign, hitting installations at the South Pars gas field, a major fuel depot in Tehran, and a nearby oil refinery.
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The Embassy of Azerbaijan in the Islamic Republic of Iran, the Consulate General in Tabriz, as well as the Embassy in the State of Israel, continue to process calls received via hotlines from Azerbaijani citizens and take necessary measures accordingly.
Israel’s military on Monday reported a missile attack launched from Yemen, intensifying already heightened regional tensions following a dramatic escalation in hostilities between Israel and Iran.
Russia has reiterated its readiness to mediate between Israel and Iran and said its proposal to store Iranian uranium on Russian soil remains valid despite the worsening conflict.
Norway's King Harald and Queen Sonja visited the Arctic archipelago of Svalbard on Monday, marking 100 years of Norwegian sovereignty amid growing global interest in the polar region.
Israel launched a strike on Saturday targeting Iran’s energy sector for the first time in its current military campaign, hitting installations at the South Pars gas field, a major fuel depot in Tehran, and a nearby oil refinery.
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