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Russia and Ukraine are preparing another major prisoner exchange, with officials from both sides working to fin...
Germany is preparing multi-billion-euro defence purchases including jets and thousands of armoured vehicles, aiming to create Europe’s most powerful army amid concerns over U.S. reliability.
Germany is set to place some of its largest military orders since the Cold War, with plans to procure 20 Eurofighter jets, up to 3,000 Boxer armoured vehicles, and around 3,500 Patria infantry fighting vehicles, according to sources.
The move is part of Chancellor Friedrich Merz’s broader push to strengthen German military capabilities and reduce dependence on the United States for European security.
The planned purchases form a key pillar of Merz's defence overhaul, following his success in gaining parliamentary approval to exempt military spending from the country's strict constitutional debt ceiling.
Germany's regular defence budget is projected to rise to €83 billion ($95.8 billion) by 2026, a €20 billion increase from the previous year.
The Eurofighter order alone is estimated at between €4 billion and €5 billion. The Boxer armoured vehicles, jointly produced by KNDS and Rheinmetall, are expected to cost around €10 billion, while the Patria fighting vehicles could total approximately €7 billion euro.
Delivery of the Boxer and Patria platforms is expected to unfold over the next decade.
Germany also plans to expand its air defence capabilities with more IRIS-T systems and several hundred SkyRanger drone defence units, though pricing for those systems has not yet been finalised.
The German Defence Ministry has yet to comment on the procurement plans, parts of which were also reported by Bloomberg, although with slightly different figures.
Chancellor Merz has committed to meeting NATO’s new target of 3.5% of GDP on defence by 2029 — a level that few other alliance members have pledged to match. He has made clear that this is necessary for Germany to shoulder greater security responsibilities in Europe.
Germany’s military build-up comes amid persistent criticism of the Bundeswehr’s readiness. Hours after Russia launched its full-scale invasion of Ukraine in 2022, the then-head of the German army admitted the country’s forces were severely under-equipped, saying the Bundeswehr was "standing there more or less empty-handed."
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
Ukraine’s President Volodymyr Zelenskyy said on Monday that Kyiv wants peace but will not surrender to Russia, as foreign leaders joined Independence Day events marking 35 years since Ukraine’s independence.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffic through the key energy chokepoint.
Pakistan is stepping up efforts to protect its trade and energy supplies as the Iran war disrupts shipping through the Persian Gulf, driving up freight costs and putting pressure on key export routes.
Russia and Ukraine are preparing another major prisoner exchange, with officials from both sides working to finalise lists of people who could be released, Russia's state news agency TASS said Wednesday.
The Trump administration has temporarily suspended some visa appointment scheduling at U.S. embassies and consulates around the world as part of a new training initiative for consular staff, adding another layer to the administration's broader immigration policy overhaul.
The United States has launched what it describes as its most aggressive sanctions campaign yet against Iran, expanding secondary sanctions and targeting sectors ranging from shipping and aviation to technology and finance.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Canada has announced nearly $20 billion in retaliatory tariffs on U.S. goods and billions in support for workers and businesses, escalating its trade dispute with Washington after President Donald Trump's latest duties took effect.
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