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US halting some shipments of military aid to Ukraine
US halting some shipments of military aid to Ukraine

eNCA

time18 hours ago

  • Politics
  • eNCA

US halting some shipments of military aid to Ukraine

USA - The White House said Tuesday it is halting some key weapons shipments to Ukraine that were promised under the Biden administration for Kyiv's battle against the Russian invasion. Stopping the delivery of munitions and other military aid including air defense systems likely would be a blow to Ukraine as it contends with some of Russia's largest missile and drone attacks of the three-year-old war. "This decision was made to put America's interests first following a DOD (Department of Defense) review of our nation's military support and assistance to other countries across the globe," White House Deputy Press Secretary Anna Kelly told AFP in an email. The curtailment of military aid signals a possible shift in the priorities of US President Donald Trump, who has pressed for Russia and Ukraine to speed up stalled peace talks. The Republican has moved on to playing a greater role in orchestrating a possible ceasefire in Gaza and toning down Iran-Israel tensions after a deadly 12-day conflict between the arch foes. The Pentagon review determined that stocks had become too low on some previously pledged munitions, and that some pending shipments now would not be sent, said a US official who spoke on condition of anonymity, according to Politico, which first reported the halt of military aid. "The strength of the United States Armed Forces remains unquestioned - just ask Iran," Kelly said, making a reference to the recent US bombings and missile strikes against the Islamic republic's nuclear facilities. Politico and other US media reported that missiles for Patriot air defense systems, precision artillery and Hellfire missiles are among the items being held back. Last week at a NATO summit in the Netherlands, Ukrainian President Volodymyr Zelensky met with Trump and appeared to get a vague response from the US leader on Patriot air defense systems. "We're going to see if we can make some available," Trump said of the missiles that Kyiv desperately seeks to shoot down Russian attacks. "They're very hard to get," Trump added. - Thousands of drones - A Russian drone attack on Ukraine's Kharkiv region killed one person and wounded another, its governor said early Wednesday. The attack follows Ukrainian drone strikes which killed three people and wounded dozens in the Russian city of Izhevsk on Tuesday, striking more than 620 miles (1,000 kilometers) from the front line -- one of the deepest attacks inside Russia to date. An AFP analysis published Tuesday found that Russia dramatically ramped up aerial attacks in June, firing thousands of drones as Ukraine's stretched air defense systems and exhausted civilian population felt the Kremlin's increased pressure. An April report from the Stockholm International Peace Research Institute (SIPRI) found that Ukraine is being outgunned by Russia, despite spending more of its GDP on defense than any other country in the world. Ukraine's military expenditure in 2024 was $64.7 billion, SIPRI said, and Kyiv has relied heavily on its allies in Europe and the United States for weapons and aid. Russian leader Vladimir Putin blamed the West for fanning the flames of war with that support, telling French president Emmanuel Macron Tuesday that the West has "for many years ignored Russia's security interests." The White House's tone has openly shifted on Ukraine with the Trump presidency. Back in 2022, then president Joe Biden affectionately embraced Zelensky at the White House as his administration announced another $2 billion in weapons for Ukraine. During Zelensky's Washington visit earlier this year, he was belittled on-camera by Trump and Vice President JD Vance during an Oval Office meeting, who ganged up to accuse the Ukrainian leader of ingratitude. Asked by AFP for comment on the halt of shipments and why it was occurring, the Pentagon did not respond directly.

Germany's defense industry is booming. Here's where its weapons are going
Germany's defense industry is booming. Here's where its weapons are going

CNBC

time19 hours ago

  • Business
  • CNBC

Germany's defense industry is booming. Here's where its weapons are going

Germany's defense sector is growing as increasing geopolitical tensions have led to a surge in orders. The value of German military exports hit 13.2 billion euros ($15.5 billion) last year, according to preliminary figures — more than double 2020's 5.82 billion euros . Defense stocks in the country have skyrocketed over the past year as the government passed a historic fiscal package expected to boost defense and infrastructure spending even further. Shares of Germany's largest defense company Rheinmetall , for instance, are up more than 260% over the last 12 months, while Hensoldt's are 168% higher. RHMB-FF .GDAXI 1Y mountain Rheinmetall vs. Dax So, where — exactly — are the record orders going? Country breakdown According to the German government's most recent export log , 80% of arms exports were to "close partner countries" during the first quarter of 2025. These include nations within the EU and beyond, including Japan, Switzerland, Australia, New Zealand, South Korea, Singapore and Ukraine. The remaining 20% of exports were to "other third countries." Germany's Federal Ministry for Economic Affairs does not name these, but told CNBC that Qatar and Israel are major players in this category. Think tank SIPRI notes that between 2020-2024, Germany was the world's fifth-largest exporter of major arms. Its three largest markets over the period were Ukraine (19%), Egypt (19%) and Israel (11%). SIPRI also reveals the types of major arms sold by German companies: over the past five years, 41% were ships, followed by armoured vehicles at 16%, missiles at 11%, and engines at 9.5%. Here's a look at some of Germany's biggest defense companies by market cap — and where their exports go. Rheinmetall Rheinmetall, which specializes in weapons, ammunition and armored vehicles, is Germany's largest defense company and is deeply embedded in the European defense system. According to the company's 2024 annual report , just over a third of its sales were domestic, with the rest of Europe accounting for 46.6%, Asia and the Middle East accounting for 9.6% of sales, the Americas 7.7%, and other regions ("above all Australia") 5.8%. MTU Aero Engines MTU Aero Engines , which creates engines for civil and military aircraft, saw a more-than 13% jump in revenue in its military division in 2024. A main source of sales was EJ200 engines that power the Eurofighter Jet, used by European, Kuwaiti, Omani, and Saudi air forces . In a geographical breakdown of MTU's 2024 revenues, which include civil and military, North America accounted for 70% of sales. In second place was Germany, then Asia and the rest of Europe. MTU's military business is mostly focused on Germany and Europe, a company spokesperson told CNBC. Hensoldt Hensoldt went public in 2020 after spinning off from Airbus. A specialist in electronic defense and sensor technology, the CEO said in his annual shareholder letter that the company continues to see strong demand amid the war in Ukraine, crises in the Middle East and threat from China. "The demand is globally increasing, but with a very high increase from Germany and Europe", Hensoldt's CFO Christian Ladurner told CNBC earlier this year. Breaking down Hensoldt's 2024 revenue , 87.8% came from Europe, 3.7% from the Middle East, 3.5% from APAC, 2.6% from North America and 2.2% from Africa. Renk Augsburg-based Renk creates gearboxes for military vehicles, including tanks and naval vessels. The company says it supplies equipment to over 70 land forces around the world, including the EU, NATO, South Korea, India, and Israel and others. It also supplies the marines of over 40 naval forces. In its 2024 annual report , total revenue came in at 1.14 billion euros. Germany accounted for 27% of sales, the U.S. 20% and South Korea 11%. Thyssenkrupp Marine Systems (TKMS) Industrial conglomerate Thyssenkrupp is Germany's largest steel producer, and its subsidiary ThyssenKrupp Marine Systems is a major player in defense. Just under 30% of TKMS sales in the first half of this financial year were to Germany, Austria, Switzerland and Liechtenstein, while a similar amount went to the rest of Western Europe. South America accounted for 18%, and the Middle East and Africa, 15%. Political controversy Germany's growing role in the global arms trade has not been devoid of controversy, however. Politicians have raised concerns over the country's exports to Israel given allegations of human rights abuses in Gaza. Germany has historically been a staunch supporter of Israel given Germany's role in the Holocaust. In May , Germany's Foreign Minister Johann Wadephul appeared open to the idea of reviewing weapons exports to Israel, although he told CNBC at the recent NATO summit that arms sales to Israel will continue. German companies exporting to Israel include TKMS, which built the Israeli Navy's Sa'ar 6 frigates , and Renk and MTU , which supply parts for Israeli Merkava tanks. German exports to Ukraine have also been a source of controversy. Since Russia's' full-scale invasion of Ukraine in 2022, Germany has been among Ukraine's biggest military backers . Backlash has come from both extremes of the political spectrum, however. The far-left BSW has called for a halt to German military support of Ukraine , for example, while Beatrix Von Storch, deputy leader of the far-right AfD told CNBC she wants Germany to "stop delivering weapons, stop fueling the war."

That's ‘N'-tertainment
That's ‘N'-tertainment

Time of India

time2 days ago

  • Politics
  • Time of India

That's ‘N'-tertainment

Rupa Sengupta is consulting editor with the edit page of Times of India. …when 'F'-bombers can't get peace at any prize A Nobel gesture: Pak's army chief recently backed Trump as peace prize candidate, for supposedly preventing Indo-Pak 'nuclear war'. Little did he know the Dove would strike Iran (which doesn't – yet – have nukes) to assist Israel (which doesn't admit it does). Post-strike, Putin's pal Medvedev denied (Toma)hawk Trump deserved even a 'rigged' Nobel. Little did he know Trump would detonate an 'F'-plosive, forcing Israel-Iran's ceasefire. During Israel-Iran's 12-day conflict, Moscow fanned nuclear fallout fears. Presumably West Asia won't be geopolitically radioactive if some – Russia-led? – countries readily 'supply' Iran with 'warheads', as Medvedev explosively claimed. What about global alarm when Russia endangers Ukraine's nuclear power plants or threatens nuclear strikes? Well, Ukraine's paying for trusting post-Soviet and pre-(and-post-)Trump security guarantors more than the nukes it renounced, see? Medvedev's 'N-word' provoked a seeming WT'F'#@!! from Trump, who'd just prevented future WWIII by bunker-busting Iran's go-nuclear plans. Never mind that, apparently vexed by Ukraine and Gaza, Trump's likened armed conflict – which invariably involves nuclear bluster – to 'hockey' matches. Only, if you can't referee them, (midnight) hammer them. Netanyahu normalising wargames meantime, China could now shoot for Taiwan, South China Sea, disputed borders, even world domination. And Kim Jong-un could target the Korean peninsula and beyond, daring regime changers by trial-running his war toys. Ranging from Seoul-shattering Shahed-series kamikaze drones – their blueprints reportedly sent from Russia, with love – to Hwasong missiles that could reach Mar-a-Lago. BTW, did Kim's military parades inspire Trump's recent $45mn extravagant-za? And didn't Trump praise US's 'lethal' 'N'-subs while bashing Medvedev's 'casual' 'N'-talk? Answer: Trump and other Bibi-sitters uphold 'peace through strength'. Practised as might-is-right, nuclear-haves bully nuclear have-nots. Which makes would-be dual-users desperate to sneak into Nukesville. Unlike Trump-wooed Saudi Arabia which openly says it'll nuclearise if Iran does – and experts say stealth-bombed Iran now stealthily will. There's no peace prize for guessing why one YUGE peacetime perk is war's windfalls. SIPRI's Yearbook 2025 says global military spending surpassed $2.7tn in 2024. Arms revenues of 100 biggest weapons-making and military services firms hit $632bn in 2023. And – manna for ICBM-lobbyists – another nuclear arms race looms. That too, when no 'great power' seems (even hopelessly) devoted to 'D' for disarmament, a stronger 'N'-deterrent than the 'F'-bomb. Facebook Twitter Linkedin Email Disclaimer Views expressed above are the author's own.

World's Top 10 Arms buyers: Where does India rank? Russia's rival takes Massive lead, Pakistan ranks at..., US stands in...
World's Top 10 Arms buyers: Where does India rank? Russia's rival takes Massive lead, Pakistan ranks at..., US stands in...

India.com

time4 days ago

  • Business
  • India.com

World's Top 10 Arms buyers: Where does India rank? Russia's rival takes Massive lead, Pakistan ranks at..., US stands in...

भारतीय सेना की सबसे पुरानी रेजिमेंट New Delhi: India is the second-largest arms importer in the world. However, there has been a major change in the country occupying the top spot on this list. Until now, Saudi Arabia held this position, but it has now been replaced. Here in this article, we have listed the names of countries who are top arms importer in the world, according to SIPRI's (Stockholm International Peace Research Institute). Ukraine The world's largest arms-importing countries during the 2020–24 period is Ukraine Owing to the current war with Russia, Zelensky has bought a huge quantity of weapons from the United States and other Western nations. India Accounting for 8.3 percent of global arms imports, India is the second-largest arms importer A 9.3 percent decline was marked compared to the previous five-year period (2015–2019). This drop is partly due to India's growing capability to design and produce its own weapons, reducing its dependence on foreign imports. Qatar Qatar is the third-largest arms importer globally between 2020 and 2024 Qatar accounts for 6.8 percent of global arms imports. The primary source of these weapons is the United States, which is also the world's largest arms exporter. Saudi Arabia Saudi Arabia is the fourth-largest importer of weapons. However, its imports have declined in recent years. The United States is its primary supplier, followed by Spain and France. Despite the decrease in imports, Saudi Arabia remains one of the world's leading arms importers. Pakistan Pakistan is the fifth-largest importer of weapons. Despite facing economic hardship, the country has continued large-scale arms imports and remains in the top five. During the period 2020–24, China was the largest arms supplier to Pakistan, accounting for 81% of its total imports, followed by the Netherlands at 5.5% and Turkey at 3.8%. Japan Japan was the sixth-largest arms importer globally, accounting for 3.9% of the world's total arms imports between 2020 and 2024 . Most of these imports came from the United States, the United Kingdom, and Germany. Compared to the period from 2015 to 2019, Japan's arms imports increased by 93% between 2020 and 2024. Australia Between 2020 and 2024, Australia was among the world's top 10 largest importers of major arms, accounting for 3.5% of global arms imports. The majority of these imports—around 80%—came from the United States, while Spain was the second-largest supplier. Key imports included ships, aircraft, helicopters, and missile defense systems. Egypt Egypt was the eighth-largest arms importer in the world. Between 2020 and 2024, Egypt reduced its arms imports by 44 percent compared to the 2015–2019 period. During 2015–2019, more than half of Egypt's imports consisted of aircraft — mainly Russian and French fighter jets and Russian helicopters. United States According to the Stockholm International Peace Research Institute (SIPRI), the United States is the ninth-largest arms importer in the world. The U.S. has primarily purchased weapons from countries such as the United Kingdom, Israel, and Germany. While the U.S. is the world's largest arms exporter, it still relies on imports for certain specialized equipment and technologies.

In a world of conflict, the spoils are rich from gold and guns
In a world of conflict, the spoils are rich from gold and guns

The Age

time4 days ago

  • Business
  • The Age

In a world of conflict, the spoils are rich from gold and guns

The Stockholm International Peace Research Institute (SIPRI) estimated that global military expenditure hit a record $US2.7 trillion ($4.1 trillion) in 2024, an increase of 9.4 per cent in real terms from the previous year, and the steepest annual jump since the Cold War ended. 'If 5 per cent [of GDP] becomes baseline, defence stocks stop being cyclical – they become structural. And that changes everything.' Stephen Innes, SPI Asset Management SIPRI highlighted the 'guns or butter' cost to social programs from the rising spending on weaponry. 'As governments increasingly prioritise military security, often at the expense of other budget areas, the economic and social trade-offs could have significant effects on societies for years to come,' warned SIPRI researcher Xiao Liang. The big beneficiaries from this war trade are traditionally US defence giants, such as Northrop Grumman – maker of the B-2 stealth bombers and intercontinental ballistic missiles – which is now trading near multi-year highs. Virginia-based RTX, which makes the Javelin and Stinger missiles that were used heavily in the Ukraine war, has also hit record highs. But the changing nature of warfare, where computer-guided drones and new technology such as AI are coming to the fire, has thrown up some new winners. Shares of US tech group Palantir have soared more than 400 per cent in a year as the company cements its place in the US industrial military complex. And investors are also noticing the impact in Europe, where Germany's new government signalled a seismic shift in March, with plans to lift strict spending controls to create a €500 billion ($896 billion) fund for defence and security. It has had a massive impact on European stocks. Italy-based aerospace, defence and security firm Leonardo, German sensor technology company Hensoldt, and British aerospace and defence company Babcock International have seen their share prices more than double over the last year. Korea's Hanwha Aerospace is another EU beneficiary, and its share price has soared 200 per cent over the same period. Even Australia benefits, as shown by Hanwha recently acquiring a 9.9 per cent stake in local shipbuilder Austal, with plans to double its investment. Austal shares have tripled since last September, thanks to its contracts with the US Navy. ASX-listed DroneShield – a maker of anti-drone technology – has tripled since February. And right on cue, it announced a $61 million European military order on Wednesday for handheld detection and counter-drone systems. This one deal exceeds its entire revenue for 2024. Three ASX-listed defence ETFs (exchange-traded funds, which invest in defence stocks globally) from VanEck, Betashares and Global X are all up 50 per cent this year. 'Global defence has been one of the few equity segments that have outperformed the market this year. Flows into ASX-listed global defence ETFs have shot up since March,' VanEck's Jamie Hannah said. The surge in the performance of defence stocks has posed a conundrum for some ethical funds and investment mandates, which have generally precluded any military assets. But investors appear to be coming to the conclusion that Citi reached in 2022: 'Defence is likely to be increasingly seen as a necessity that facilitates ESG as an enterprise as well as maintaining peace, stability and other social goods.' In April, UBS Asset Management – which oversees $US1.8 trillion in investments – scrapped prohibitions that prevented its sustainable funds from investing in conventional military weapons manufacturers. Exclusions still apply to more controversial weaponry such as cluster munitions. Hannah says VanEck already screens out these more controversial manufacturers from its ETF. 'It's very much an area where you need to consider what you're investing in,' Hannah said. Meanwhile, the only controversy over the ultimate defensive asset, gold, is whether it has peaked after a spectacular run over the past year to a record high of $US3500 an ounce in April. This month, a European Central Bank report confirmed that its soaring price, along with bullion buying by central banks, means gold is currently the second-biggest reserve holding by central banks behind the US dollar. Citi highlighted the extraordinary rush to gold with a report saying 0.5 per cent of global GDP was being spent on gold – the most in 50 years of data. And central banks have not been the only buyers. This month, VanEck noted that Australia's most recent export figures included $11 billion in 'non-monetary' gold exports to the US – which is gold acquired by private buyers, not reserve banks, for their foreign exchange reserves. 'This volume of gold exports for the quarter is more than the total non-monetary gold we have shipped to the USA in the last four years, and we think this could reflect a massive increase in demand from investors due to a loss of faith in [the US dollar] and US Treasuries,' VanEck's Cameron McCormack said. While some are getting squeamish after this year's 27 per cent gain for the precious metal, others are expecting its golden run to continue. Wall Street giant Goldman Sachs predicts gold will climb to $US3700 a troy ounce by the end of the year, from about $US3330 currently, as central banks keep buying tonnes of it every month. It could rise even further if investors use bullion as a safe space ahead of interest rate cuts and amid rising recession concerns. 'In the event of a recession, Goldman Sachs Research forecasts that gold could rise to as much as $US3880 a troy ounce,' the investment bank says.

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