Norway to Donate $7.3B Aid to Ukraine  02/06 06:12

   

   COPENHAGEN, Denmark (AP) -- Oil-rich Norway is looking to donate 75 billion 
kroner ($7.3 billion) to Kyiv as part of a five-year support package that would 
make the Scandinavian country one of the world's biggest donors to war-torn 
Ukraine, the Norwegian government said Monday.

   Prime Minister Jonas Gahr Store said the money would be split evenly between 
military and humanitarian assistance over five years, broken down to 15 billion 
kroner ($1.5 billion) annually. The proposed aid package will be put to a vote 
in parliament.

   Last week, European Commission President Ursula von der Leyen said that 
overall, the European Union's economic, humanitarian and military support for 
Ukraine now amounts to almost EUR 50 billion.

   Norway is not an EU member, but has given Ukraine more 10 billion kroner ($1 
billion) in civilian and military aid last year.

   "It will lead to an increased use of oil money," Gahr Store said, adding 
that he's hoping "a large majority" in the Norwegian parliament would approve 
the aid package. A parliamentary majority is expected to pass the proposal.

   "Supporting Ukraine is supporting a people experiencing war, but it is also 
support for our fundamental security," Gahr Store told a press conference.

   Norway is one of Europe's largest fossil-fuel exporters, and the conflict in 
Ukraine has boosted its gas revenues. However, Norway has fended off 
accusations that it's profiting from the war in Ukraine.

   A rush by European countries to secure alternative energy sources following 
Russia's invasion of Ukraine nearly a year ago dramatically increased the 
demand -- and price -- for Norway's oil and gas.