COPENHAGEN, Denmark (AP) – Oil-rich Norway is looking to donate 75 billion kroner ($7.3 billion) to Kiev. As part of a five-year aid package that would make the Scandinavian country. One of the world’s biggest donors to war-torn Ukraine. The Norwegian government said this on Monday.
Prime Minister Jonas Gahr Storr said the money would be split between military.
Humanitarian aid over five years, broken down to 15 billion kroner ($1.5 billion) . The proposed aid package will be put to a vote in parliament.
Last week, European Commission President Ursula von der Leyen said that. The EU’s economic, humanitarian. And military aid to Ukraine now amounts to around 50 billion euros. Earlier this month, the EU said it would unveil. Its 10th sanctions package against Russia on February 24, the anniversary of the war. It will target the technology used by Russia’s war machine, among other things.
Norway, which is not an EU member. Gave Ukraine more than 10 billion kroner ($1 billion) in civilian and military aid last year.
“This will lead to an increase in the use of oil money.” Gahr Storr said, adding that he expected. A”large majority” in the Norwegian parliament to approve the aid package. A parliamentary majority is expected to pass the proposal.
“Supporting Ukraine is supporting people facing war. But it’s also supporting our basic security,” Gahr Stort told a news conference.
“We are showing the Ukrainians that we will support them for a long time,” adding. This will enable better planning so that the money can be used where it is most needed.”
At a conference earlier Monday in Oslo, Gahr Storr spoke of a new Iron Curtain dividing East and West.
“The implications for Europe are hard to overestimate. The self-imposed isolation of Russia is bad news for us. He added that “Ukraine’s needs are immense.”
The government in Oslo also proposed a 5 billion kroner ($490 million) increase in aid to countries affected. By the war in Ukraine — money that should be used for humanitarian aid and food.
Last week, the Norwegian government said oil profits should go towards financing more aid to Ukraine.
Norway is one of Europe’s largest fossil-fuel exporters. And the conflict in Ukraine has boosted its gas revenues. But, Norway has denied allegations of profiting from the war in Ukraine.
A rush by European countries to secure alternative energy sources. After Russia’s invasion of Ukraine a year ago has increased demand — and prices — for Norwegian oil and gas.