Close Menu
Fin Street NewsFin Street News
  • Home
  • Business
  • Finance
    • Banking
    • Stocks
    • Commodities & Futures
    • ETFs & Mutual Funds
    • Funds
    • Currencies
    • Crypto
  • Markets
  • Investing
  • Personal Finance
    • Loans
    • Credit Cards
    • Dept Management
    • Retirement
    • Mortgages
    • Saving
    • Taxes
  • Fintech

Subscribe to Updates

Get the latest finance and business news and updates directly to your inbox.

Trending
Car Insurance Rates Jump 22% As Coverage Costs Climb

Car Insurance Rates Jump 22% As Coverage Costs Climb

June 25, 2025
What Is A Second-Chance Car Loan?

What Is A Second-Chance Car Loan?

June 25, 2025
What Is A Business Line Of Credit And How Does It Work?

What Is A Business Line Of Credit And How Does It Work?

June 25, 2025
Trump: F-35, F-22 Stealth Fighters Were Part of Operation Midnight Hammer

Trump: F-35, F-22 Stealth Fighters Were Part of Operation Midnight Hammer

June 25, 2025
CMO Laura Jones Talks Instacart’s Journey to the Super Bowl

CMO Laura Jones Talks Instacart’s Journey to the Super Bowl

June 25, 2025
Facebook X (Twitter) Instagram
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
June 25, 2025 3:50 pm EDT
|
Facebook X (Twitter) Instagram
  Market Data
Fin Street NewsFin Street News
Newsletter Login
  • Home
  • Business
  • Finance
    • Banking
    • Stocks
    • Commodities & Futures
    • ETFs & Mutual Funds
    • Funds
    • Currencies
    • Crypto
  • Markets
  • Investing
  • Personal Finance
    • Loans
    • Credit Cards
    • Dept Management
    • Retirement
    • Mortgages
    • Saving
    • Taxes
  • Fintech
Fin Street NewsFin Street News
Home » Mistake for Europe to Break From US Defense Industry: NATO Minister
Mistake for Europe to Break From US Defense Industry: NATO Minister
Finance

Mistake for Europe to Break From US Defense Industry: NATO Minister

News RoomBy News RoomJune 25, 20250 ViewsNo Comments

A key NATO member warned that it would be a “really big mistake” for Europe to break away from the US defense industry.

European defense spending has risen sharply since Russia’s full-scale invasion of Ukraine in 2022, and President Donald Trump has cast doubt on his commitment to NATO and Ukraine, prompting warnings that Europe has to prepare for America withdrawing support.

Ursula von der Leyen, the president of the European Commission, said in March that “we must buy more” European weapons, and “that means creating an EU-wide market for defense equipment.”

Some countries have even said they were rethinking some of the most key types of US-made weaponry, like the F-35 fighter jet, even though there is no like-for-like replacement for the fifth-generation aircraft.

Kestutis Budrys, Lithuania’s foreign minister, said during the NATO summit on Tuesday that it would be a “really big mistake for Europe just to draw the line, to build defense” capabilities without US involvement, Breaking Defense reported.

He said there is “room enough for everyone, and I’m talking about our transatlantic relations on this specific element.”

Lithuania’s defense spending is among the highest of any NATO member as a proportion of its GDP, at an estimated 2.85% in 2024 according to NATO figures.

It’s one of the countries sounding the alarm that Europe needs to keep increasing its defenses, as Russia could attack beyond Ukraine.

Last month, former CIA director David Petraeus said Lithuania was the country he thought was most at risk of a Russian invasion.

Defense spending across Europe has soared since Russia’s full-scale invasion of Ukraine.

EU countries spent an estimated $379 billion on defense in 2024, a 30% rise from 2021, per official figures.

But many nations on the continent warn that shortfalls in manufacturing capacity mean that increased spending is not yet enough.

Many other European countries, including Lithuania, are still ordering defense equipment from the US.

Related stories

Business Insider tells the innovative stories you want to know

Business Insider tells the innovative stories you want to know

The country already has many US-made weapons in its arsenal, and has placed orders for others like the High Mobility Artillery Rocket System made by Lockheed Martin.

Lithuanian Defense Minister Dovilė Šakalienė said in March that her country has signed off on $2 billion worth of business with US defense firms in the past three years.

US manufacturer Northrop Grumman announced on Tuesday that it had signed a memorandum of understanding with Lithuania to co-produce ammunition.

The UK said on Tuesday that it’s buying 12 F-35As, saying they will be used to carry nuclear weapons.

The Spanish subsidiary of US defense company Lockheed Martin signed a new agreement with the country’s defense ministry in May. Under the agreement, it will work with two Spanish companies on parts for its PAC-3 missiles, which are used by the Patriot air defense system.

On his way to the NATO summit, Trump raised doubts about his commitment to Article 5, which obliges members to come to each other’s defense, telling reporters on Air Force One there were “numerous definitions” of it.

Rutte later said the US president was “totally committed” to Article 5.



Read the full article here

break defense Europe industry Minister mistake NATO
Share. Facebook Twitter LinkedIn Telegram WhatsApp Email

Keep Reading

Trump: F-35, F-22 Stealth Fighters Were Part of Operation Midnight Hammer

Trump: F-35, F-22 Stealth Fighters Were Part of Operation Midnight Hammer

How Healthcare Companies Can Prepare Data for AI-Assisted Management

How Healthcare Companies Can Prepare Data for AI-Assisted Management

AI Coding Tools Upend the ‘Buy Versus Build’ Software Equation

AI Coding Tools Upend the ‘Buy Versus Build’ Software Equation

Usha Vance’s Best and Worst Outfits As Second Lady

Usha Vance’s Best and Worst Outfits As Second Lady

Housing Market Set for ‘Worst Year in Decades,’ Says Meredith Whitney

Housing Market Set for ‘Worst Year in Decades,’ Says Meredith Whitney

Tesla’s Long-Awaited Robotaxi Rollout Faced Bumps in the Road

Tesla’s Long-Awaited Robotaxi Rollout Faced Bumps in the Road

Khan Academy CEO Says AI Won’t Replace Teachers

Khan Academy CEO Says AI Won’t Replace Teachers

Going on Vacation With in-Laws Means Balancing Parenting Styles

Going on Vacation With in-Laws Means Balancing Parenting Styles

Microsoft Employee Shares Great Flattening Middle Manager Purge Impact

Microsoft Employee Shares Great Flattening Middle Manager Purge Impact

Add A Comment
Leave A Reply Cancel Reply

Editors Picks

What Is A Second-Chance Car Loan?

What Is A Second-Chance Car Loan?

June 25, 2025
What Is A Business Line Of Credit And How Does It Work?

What Is A Business Line Of Credit And How Does It Work?

June 25, 2025
Trump: F-35, F-22 Stealth Fighters Were Part of Operation Midnight Hammer

Trump: F-35, F-22 Stealth Fighters Were Part of Operation Midnight Hammer

June 25, 2025
CMO Laura Jones Talks Instacart’s Journey to the Super Bowl

CMO Laura Jones Talks Instacart’s Journey to the Super Bowl

June 25, 2025
25 Ways to Lower Your Electric Bill This Summer

25 Ways to Lower Your Electric Bill This Summer

June 25, 2025

Latest News

How To Close a Citi Credit Card

How To Close a Citi Credit Card

June 25, 2025
Can You Stop Social Security Benefits and Restart Later?

Can You Stop Social Security Benefits and Restart Later?

June 25, 2025
How Healthcare Companies Can Prepare Data for AI-Assisted Management

How Healthcare Companies Can Prepare Data for AI-Assisted Management

June 25, 2025

Subscribe to News

Get the latest finance and business news and updates directly to your inbox.

Advertisement
Demo
Facebook X (Twitter) Pinterest TikTok Instagram
2025 © Prices.com LLC. All Rights Reserved.
  • Privacy Policy
  • Terms
  • For Advertisers
  • Contact

Type above and press Enter to search. Press Esc to cancel.