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
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.