Business news from Ukraine

Finland to send Ukraine new military aid package

Finland will send a new military aid package to Ukraine, a decision made by the president on June 28 on the proposal of the government.

According to the website of the Finnish Ministry of Defense, this is the 24th delivery of defense equipment from Finland to Ukraine. It is estimated that the replacement of the equipment included in this shipment will cost Finland approximately 159 million euros. The total value of defense equipment supplied by Finland to Ukraine is EUR 2.2 billion.

“Finland intends to support Ukraine in its fight against Russia’s unjustified aggression. It is not only about Ukraine, but also about the right of all free nations to their ultimate existence. We, the Finns, have learned from our own history how important this issue is,” said Defense Minister Antti Häkkänen.

The ministry noted that Finland is also participating in the Czech initiative for joint procurement of ammunition. Finland has also decided to participate in an armored coalition led by Poland, Germany and Italy, and an information technology coalition led by Estonia and Luxembourg. The purpose of the international coalitions is to provide long-term support to Ukraine.

“For operational reasons and to ensure the safe delivery of aid, its exact content, methods and timing are not disclosed. When providing assistance, both the needs of Ukraine and the state of the resources of the Defense Forces are taken into account,” the Defense Ministry said.

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Finland to provide €190 mln in military aid to Ukraine

Finland is sending the 22nd military aid package worth up to €190 million and is preparing a long-term plan to support Ukraine, the Finnish government’s press service reports.

“Finland is sending more defense equipment to Ukraine. The President of the Republic made a decision on this issue on February 9, 2024, on the proposal of the government. This is the 22nd consignment of military aid from Finland to Ukraine,” the Finnish government said in a statement on its official website on Friday.

As noted, the total cost of the package will be approximately 190 million euros. This package includes equipment and products made in Finland, while “separate funding of 30 million euros will be allocated to support Ukraine.”

“At the national level and more broadly, we need to find new ways to support Ukraine in the long term. We are currently preparing a long-term plan to support Ukraine,” Finnish Defense Minister Antti Hakkanen said, as quoted by the press service. According to him, the Finnish industry has a lot of know-how, “and we are working to ensure that this know-how and potential can be used more effectively in supporting Ukraine. One example of this is our domestic ammunition production.”

It is also reported that Finland has decided to participate in the artillery and demining coalitions operating within the framework of the Contact Group for the Defense of Ukraine, a group that coordinates assistance to Ukraine in the field of armaments.

“We are grateful to Finland for its continued support,” the Ukrainian Defense Ministry said in a post on social media platform X.

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Voting in presidential election in Finland ended on Sunday

Voting in the presidential election in Finland ended on Sunday, with a voter turnout of 74.9%. Since none of the candidates received more than half of the votes, a second round of voting will be held on February 11 with the participation of Alexander Stubb and Pekka Haavisto, the Finnish edition of Yle reported on Sunday.

After counting 100% of the votes, former Prime Minister Aleksandra Stubb received 27.2% of the vote, and former Foreign Minister Pekka Haavisto 25.8%.

According to the country’s legislation, the president is elected for 6 years for no more than two consecutive terms, so Finnish President Sauli Niinistö will no longer be able to claim a third term in office, and a new, thirteenth head of state will come to power, whose term of office will begin on March 1, 2024.

Earlier, the Experts Club information and analytical project analyzed all the major elections scheduled for 2024, and you can learn more about the 2024 global elections in the video here: https://youtu.be/73DB0GbJy4M?si=rAMBZvZ4ozNmSr4v

Subscribe to the Experts Club channel: https://www.youtube.com/@ExpertsClub

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Finland proposes to increase aid to Ukraine

On Thursday, November 23, the Finnish government submitted a proposal to the parliament to amend the draft budget for 2024, among other things, the proposal contains amendments to support Ukraine, the government’s website reports.

In particular, it is proposed to increase by €95.7 million the maximum amount of authorization for the purchase of military equipment for the UKR 2023 Defense Forces for 2024-2028. The proposal will cover the cost of replacing equipment as a result of the 19th package of material assistance provided to Ukraine. The increase in allocations in 2024 will amount to EUR 20.7 million. As a result of the increase, the maximum amount of procurement authorization will be EUR 1 billion 451 million.

In addition, the government proposes to increase the capital of the Finnfund by EUR 25 million, which will be used for investments and loans focused on Ukraine.

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Finland to send 20th package of military aid to Ukraine

On Friday, Finnish President Sauli Niinistö decided to send another military equipment to help Ukraine on the proposal of the government.

According to the Finnish government’s website, this will be the 20th delivery of military equipment to Ukraine. The replacement of the defense equipment contained in this package will cost Finland approximately EUR100 million.

“The total compensation value of the 20 packages of Finnish defense equipment now amounts to EUR 1.5 billion,” said Finnish Defense Minister Antti Kaikkonen.

For operational reasons, and to ensure that the aid reaches its destination safely, no further information will be disclosed about the contents of the package, the method of delivery or the schedule.

The government noted that the decision to provide additional assistance took into account both the needs of Ukraine and the resources of the Finnish Defense Forces.

“The prospects for security in Europe and Finland in the current decade are at stake in Ukraine’s defense struggle. Together with our allies, we remain unwavering in our commitment to support Ukrainians,” Mr. Kaikkonen emphasized.

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Finland to send 94 mln euros worth of military aid to Ukraine

Finland will send the 18th military aid package to Ukraine.

“The cost of the military equipment to be supplied will be about 94 million euros,” the government of the republic said on Friday.

The total cost of all the aid provided by Finland will be about 1.3 billion euros.

The exact content of the aid and the delivery schedule are not disclosed for reasons of ensuring safe delivery.

On Wednesday, during a visit to Ukraine, Prime Minister Petteri Orpo promised Ukrainian President Volodymyr Zelenskyy that Finland would soon decide on a new military aid package.

“Artillery, ammunition, and air defense equipment, in particular, are now of central importance in Ukraine. Ukraine needs air defense to protect not only its cities and citizens, but also commercial routes, such as grain shipments in the Black Sea,” he told a meeting of his National Conservative Party’s parliamentary faction on Friday.

He noted that Ukraine will host an exhibition for defense equipment manufacturers in the fall.

“I call on all Finnish defense industry operators to take advantage of this opportunity and participate in export work,” Orpo urged.

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