Business news from Ukraine

Business news from Ukraine

Denmark cuts aid to Ukraine by half

The Danish government plans to cut the amount of aid provided to Ukraine by almost half, according to Danish public broadcaster DR (Danmarks Radio).

“In response to a request from the Defense Committee, Defense Minister Troels Lund Poulsen said that Denmark will provide 9.4 billion kroner next year. Last year, we provided 16.5 billion kroner, and the year before that, almost 19 billion kroner,” the report said.

Earlier, in 2023, a broad majority in the Danish parliament agreed to create the Ukraine Fund. This is an economic framework that determines how much aid Denmark will provide to Ukraine. To date, Denmark has provided Ukraine with more than 70 billion in military aid.

Denmark is currently the country that has provided Ukraine with the most support as a percentage of GDP. Therefore, according to Simon Kollerup, spokesperson for the Social Democratic Party on defense issues, it is “natural” that support is being reduced.

“We decided to be one of the countries that provided the most extensive support at the beginning of the war. I also think it is fair to say that this support is somewhat more than what one might expect given the size of our country. Therefore, I think it is quite natural that support is gradually decreasing,” he said.

Kollrup also noted that it has not yet been decided politically whether support will remain reduced, despite current decisions.

“I think we will allocate more money than is currently planned. Does this mean that we will necessarily be at the forefront, as we were before? I’m not sure,” he said.

He pointed out that politicians had long ago decided to create a model for the Ukraine Fund, where most of the billions were spent during the first three years of the war. And that the time will soon come for other countries to contribute to this fund.

“We are a small country with a healthy economy and a high capacity for decision-making, so we were actually able to find the funds in our economy to provide significant support at the beginning. But I also believe that there is room for other countries to come on the scene,” Kollrup explained.

In turn, Stinus Lindgren, defense spokesman for the Radical Left party, said that now is not the time to reduce support for Ukraine.

“The problem is that we haven’t allocated new funds for a long time. If we think it’s so important to support Ukraine, and I hear that all parties say so, then right now we need to sit down in parliament and make sure we have the money ready,” he said.

He clarified that he considers the amounts allocated in previous years to be sufficient.

“I believe that we should return to the level we were at in previous years,” he said.

Lindgren added that Ukrainians have been under intense pressure on the battlefield recently. The Kremlin claims that the strategically important city of Pokrovsk, which has been the scene of fierce fighting for a long time, has finally fallen into Russian hands.

“If you look at the situation in Ukraine right now, it is critical. Now is not the time to lower our ambitions. Neither in Denmark nor internationally,” he concluded.

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Denmark invests 10 mln kroner in restoring Ukrainian cultural heritage

Denmark is investing 10 million Danish kroner (EUR1.34 million) in Ukrainian culture and the restoration of Ukrainian cultural heritage, said Ukraine’s Deputy Prime Minister for Humanitarian Policy and Minister of Culture Tetiana Berezhna on Monday after meeting with Denmark’s Minister of Culture, Media, and Sport Jakob Engel-Schmidt.

“Denmark is investing 10 million Danish kroner in Ukrainian culture and the restoration of Ukrainian cultural heritage. This was announced today by Danish Minister of Culture, Media and Sport Jakob Engel-Schmidt during our joint press conference. Mr. Engel-Schmidt also noted that their goal is to encourage other countries to follow Denmark’s example. Thank you for your leadership in supporting Ukraine!” Berezhna wrote on her Facebook page.

The minister noted that the Ukrainian delegation joined an informal meeting of European Union ministers of culture and media in Copenhagen.

“We are presenting to our colleagues the mechanics and key objectives of the Ukrainian Cultural Heritage Fund, a platform for restoring cultural heritage and strengthening culture. We are showing the figures of the destruction caused by the Russian Federation. We are talking about the top priorities for restoration for the next three years. We will also hold a series of bilateral meetings in Copenhagen with European partners, Danish cultural institutions, and the Ukrainian community,” Berezhna said.

She thanked Denmark for supporting Ukraine’s participation in the event, for its partnership and investment in Ukrainian culture and restoration.

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Ukraine to open arms export offices in Germany and Denmark this year

Ukraine will open offices in Berlin and Copenhagen this year to sell arms for export, Ukrainian President Volodymyr Zelenskyy has announced.

“We are opening two export capitals. You know that this is co-production and export, which we talked about, of weapons that we can afford to sell in order to have additional money for our domestic production of scarce items, for which we do not have enough money,” Zelensky said at a briefing on Monday.

According to the president, the opening of the first two representative offices was decided not at the level of companies that will be involved in co-production, but at the level of states.

“The first two capitals are our representative offices, Berlin and Copenhagen. This will happen this year,” the president added.

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Denmark appoints new ambassador to Kyiv

On Thursday, October 2, Deputy Minister of Foreign Affairs of Ukraine Oleksandr Mishchenko accepted copies of the credentials of the newly appointed Ambassador of the Kingdom of Denmark to Ukraine, Thomas Lund-Sørensen, according to the press service of the Ministry of Foreign Affairs. According to the Foreign Ministry’s website, Mishchenko noted that the new ambassador’s extensive professional experience will be extremely valuable for the further development of bilateral relations.

He also praised Denmark’s leadership during its presidency of the EU Council in the second half of 2025 and its unprecedented support for Ukraine. Denmark is the absolute world leader in terms of aid relative to GDP – 2.89%, with total military aid reaching EUR9.4 billion.

In turn, Lund-Sørensen emphasized Denmark’s commitment to further support Ukraine, strengthen its defense capabilities, assist in its path to EU accession, and promote mutual benefits from the application of the “Danish model,” which is also an investment in the security of all of Europe.

 

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73% of Ukrainians have positive attitude towards Denmark – survey

The results of a survey conducted by Active Group and Experts Club in August 2025 show that Ukrainians have a very favorable attitude towards Denmark.

Thus, 73.7% of respondents expressed a positive attitude (33.3% — completely positive, 40.3% — mostly positive). Only 1.3% of respondents gave negative assessments, while 22.7% took a neutral position and 2.3% admitted to being insufficiently informed about the country.

“Denmark is perceived by Ukrainians as a sincere partner and reliable ally in the current circumstances. The high level of trust reflects both humanitarian aid and consistent political support for Ukraine from Copenhagen,” said Active Group CEO Oleksandr Pozniy.

Maksim Urakin, co-founder of Experts Club, analyzed trade and economic indicators:

“According to the results of January-August 2025, trade turnover between Ukraine and Denmark amounted to about $279 million. Exports of Ukrainian goods reached $109.3 million, while imports from Denmark exceeded $169.6 million. As a result, there was a negative balance of $60.3 million. This indicates that, despite very warm public sentiment, Ukraine should work to strengthen its exports to the Danish market,” the expert emphasized.

Thus, Denmark remains one of the most positively perceived countries among Ukrainians, but the economic component of relations requires more balanced development.

The full video can be viewed at: https://www.youtube.com/watch?v=YgC9TPnMoMI&t

You can subscribe to the Experts Club YouTube channel here: https://www.youtube.com/@ExpertsClub

 

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Danish ambassador ends mission in Ukraine after five years of service

Ukrainian Foreign Minister Andriy Sybiga received Ole Egberg Mikkelsen, Ambassador Extraordinary and Plenipotentiary of the Kingdom of Denmark to Ukraine, who is ending his diplomatic mission in Ukraine after five years of service.

According to the press service of the Ukrainian Foreign Ministry, Sibiga expressed his gratitude to Ole Egberg Mikkelsen for his personal commitment to the Ukrainian-Danish partnership and noted that the ties between Ukraine and Denmark established during his tenure go far beyond official relations.

“Denmark has become a world leader in terms of aid to Ukraine as a percentage of GDP (2.89%) and has provided our country with more than €9.9 billion in support. In addition, Denmark’s unique partnership with Mykolaiv and the Mykolaiv region has become a model of regional cooperation for other international partners. We greatly appreciate this,” Sibiga said.

The minister also noted the recent launch of the long-term humanitarian support program Ukraine Transition Programme and unprecedented military assistance, namely Denmark’s transfer of its entire artillery arsenal, the provision of F-16 fighter jets, and the launch of the Danish model of direct investment in the Ukrainian defense-industrial complex.

The interlocutors discussed the further development of relations between Ukraine and Denmark on the path to a just peace and the restoration of security in Europe.

The Foreign Minister wished Ole Egberg Mikkelsen success in his new endeavors.

Source: https://interfax.com.ua/news/diplomats/1105612.html

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