Norway is considering tapping its sovereign wealth fund to dramatically increase its support for Ukraine amid signs that US military backing is waning. Europe is in crisis mode after a bitter clash between Trump and Zelenskyy at the White House, and the Trump administration is reportedly considering cutting off all military supplies to Ukraine. Norway is sitting on €1.7 trillion in the world’s largest sovereign wealth fund, including an estimated €109 billion in war-related profits from increased gas prices in 2022 and 2023. The Nordic country has so far spent €3.35 billion on support to Ukraine - an amount described on Thursday as “pathetic” and “reprehensible” by the editors of major Swedish and Danish newspapers, whose countries, according to the same data, have contributed €5.41 billion and €8.05 billion respectively. “Norway is one of the few countries that has large amounts of money readily available, and we must therefore multiply our support for Ukraine immediately,” Liberal Party leader Guri Melby said on Saturday.

  • TechAnon@lemm.ee
    link
    fedilink
    English
    arrow-up
    28
    ·
    1 day ago

    Trump will say, “Thank me! See make them pay for it!” Even though this puts us at greater risk in the future. 🤮

    • Daelsky@lemmy.ca
      link
      fedilink
      English
      arrow-up
      6
      ·
      21 hours ago

      Urgh disgusting. Glad to see the EU and Canada step up now more than ever.