EU Agrees on $1.8 Billion Defense Plan After Buy-European Battle

European Union officials approved €1.5 billion ($1.8 billion) to improve Europe’s defense readiness, spurred by the war in Ukraine.

Denmark, which holds the rotating six-month EU presidency, reached a provisional deal with European Parliament negotiators to provide the financing as grants through 2027, according to an EU statement. A fifth of the amount is earmarked for defense cooperation with Ukraine.