Norway’s Finance Minister Jens Stoltenberg Defends Record Ukraine Aid, Rejects Claims Oslo Profits Without Paying Its Share
#geopolitics #economy #nato
Norway’s Finance Minister Jens Stoltenberg returned to Brussels for the Economic and Financial Affairs Council, marking his first appearance in this setting since 1996. Speaking alongside EU and EFTA counterparts, Stoltenberg emphasised the importance of open trade within the European Economic Area and highlighted the growing challenges posed by global trade restrictions. Throughout a series of bilateral meetings, including with EU Commissioner Valdis Dombrovskis and the Belgian Finance Minister, he underlined Norway’s determination to maintain strong cooperation with the EU during heightened geopolitical uncertainty.
Stoltenberg placed significant focus on Ukraine, stating that Norway had tripled its military support for 2025, providing €7.3 billion in direct assistance. He stressed that, measured by GDP or per capita, Norway remains “on top” among global donors and insisted that preventing a Russian victory is crucial not only for Ukraine but for Europe’s security. Asked whether Oslo would participate in the EU's planned Ukraine lending scheme, Stoltenberg clarified that the EU had no intention of asking Norway or other non-EU countries to join, and that it was too early to comment on a mechanism not yet finalised. He reiterated that direct support remains Norway’s preferred model.
Pressed by journalists on whether Norway’s soaring oil and gas revenues since Russia’s invasion created a moral obligation to contribute more, Stoltenberg rejected the claim that Norway’s current contributions were “small,” insisting the correct metric is GDP share. He added that the Norwegian sovereign wealth fund absorbs market fluctuations and that Norway already contributes more than most European economies on a proportional basis. When confronted with assessments from the Norwegian Institute suggesting that Oslo should double its aid to prevent a costlier conflict later, Stoltenberg responded that Norway had already tripled its support and continues evaluating future commitments.
Stoltenberg also addressed concerns about corruption in Ukraine, stressing confidence in NATO and other international mechanisms to ensure funds are not misused. He praised President Volodymyr Zelensky’s anti-corruption efforts and argued that support for Ukraine must not be reduced because of isolated scandals. On trade, Stoltenberg expressed clear disagreement with proposed EU safeguard measures affecting ferro-alloys, arguing that Norwegian producers are integrated into the European supply chain and warning that restricting EFTA partners undermines the internal market. He declined to discuss potential legal action but confirmed ongoing high-level political dialogue.
Asked whether Norway could increase Ukraine aid further in response to high gas revenues, Stoltenberg said the government would “constantly consider what more we can do,” but stressed that the current tripling already places Norway among the top contributors in GDP terms. He avoided criticising countries providing less support, saying it is up to NATO and the EU to ensure better burden sharing. Finally, he rejected suggestions that participation in any future EU financial mechanism would expose Norway to Russian retaliation, emphasising that the only priority is ensuring Ukraine receives timely and effective assistance.
——————————————————
*Subscribe to Europe Pulse*
Stay updated with the latest news from Europe.
#EuropePulse #BreakingNews #EU #WorldNews #Politics #TrendingNow #NewsUpdate #Analysis #Ukraine #Russia #USA #UK #EuropeanUnion #NATO #WorldEvents #CurrentAffairs #EUnews #TopStories #InternationalNews #Brussels #Leaders #ViralNews #Headlines
