Economy

Zelenskiy says US preparing aid package to finance production of Ukrainian drones

(Reuters) – Ukrainian President Volodymyr Zelenskiy said on Monday the United States was preparing an aid package worth $800 million to finance production of Ukrainian drones.

Zelenskiy, in his nightly video address, said the package was in addition to a $400 million package for new arms announced during U.S. Defense Secretary Lloyd Austin’s visit to Kyiv.

“A separate package is also being prepared — $800 million in funding for the production of Ukrainian drones,” Zelenskiy said.

“Ukraine is grateful for this. We need to ensure that, whatever the political threats in the world, Ukraine can consistently defend its sovereignty and independence.”

Since Russia launched its full-fledged invasion in February 2022, Ukraine has focused efforts on boosting domestic weapons production, particularly drones.

Zelenskiy told a meeting with foreign arms manufacturers this month that Ukraine could produce four million drones annually and was quickly ramping up its production of other weapons.

He said Ukraine had already contracted to produce 1.5 million drones this year.

This post appeared first on investing.com

You May Also Like

Editor's Pick

Sen. JD Vance (R-Ohio) and Minnesota Gov. Tim Walz (D) will face off Tuesday night at a CBS News vice-presidential debate in New York....

Economy

A U.N. human rights group confirmed Hamas’ leader in Lebanon, who was recently killed by Israeli strikes, was their employee.  Fateh Sherif was killed...

Latest News

A North Korean defector who escaped to the South more than a decade ago was detained after attempting to cross back into North Korea...

Investing

Astron (ASX:ATR) and Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU) have completed the establishment of a joint venture to advance the Australia-based Donald rare earths and mineral sands...

Disclaimer: balanceandcharge.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 balanceandcharge.com

Exit mobile version