Norway is considering tapping its sovereign wealth fund to dramatically increase its support for Ukraine amid signs that US military backing is waning. Europe is in crisis mode after a bitter clash between Trump and Zelenskyy at the White House, and the Trump administration is reportedly considering cutting off all military supplies to Ukraine. Norway is sitting on €1.7 trillion in the world’s largest sovereign wealth fund, including an estimated €109 billion in war-related profits from increased gas prices in 2022 and 2023. The Nordic country has so far spent €3.35 billion on support to Ukraine - an amount described on Thursday as “pathetic” and “reprehensible” by the editors of major Swedish and Danish newspapers, whose countries, according to the same data, have contributed €5.41 billion and €8.05 billion respectively. “Norway is one of the few countries that has large amounts of money readily available, and we must therefore multiply our support for Ukraine immediately,” Liberal Party leader Guri Melby said on Saturday.
Use it to make a minerals deal with Ukraine, in lieu of the US. That would discredit Trump, and allow for a lasting trade relationship long after the war is over.
If there was any time to use it , now would be it.
Honestly Norway could equal Russia’s entire military budget for the year without anyone in Norway noticing any changes to their daily lives.
Guys, we can only throw so much money at war before it stops having an effect.
Ukraine has recruitment problems. They have moral problems. Nobody wants to fight in a losing war. They’ve all seen their friends die. They’ve all heard stories about how awful combat is. None of them want a part of it anymore.
It’s unfortunate, but we have to accept the reality that real people are dying. They don’t get to respawn after a few seconds like in a video game. Each death results in more grieving friends and family.
Ukraine doesn’t want to use the same meatwave tactics as Russia. It’s not the same as having a recruitment problem. Ukrainian soldiers are also way more motivated than the Russians who, are advancing very slowly and at huge cost.
The reason Russia is advancing at all is because Russia is prepared to suffer catastrophic numbers of dead and wounded to take a field and Ukraine is prepared to loose a field or two if it means conserving their population. The two methods for Ukraine to regain their territory are to either use a massive portion of their population in meatwave attacks or to cause a collapse of government within Russia. The latter is much quicker and more effective long term.
Russia has a population of 140ish million people all of which are viewed as expendable by Putin. Recruiting more meat won’t help. Long range ordinance to fuck up russas logistics routes and oil infrastructure will absolutely help. So shut your cock-pocket and scurry back to your basement in the Kremlin.
It’s not the same as having a recruitment problem.
The absolute delusion among you people is truly a sight to behold.
I can tell who paid attention in history class, and who did not.
Trump will say, “Thank me! See make them pay for it!” Even though this puts us at greater risk in the future. 🤮
Urgh disgusting. Glad to see the EU and Canada step up now more than ever.
Earmarking the war profits for the war, as well as reconstruction, seems to be quite sensible.
can they legaly extract money from that fund?
Kind of. The amount that can be spent annually is regulated by law. I don’t remember the exact figure, but the budget can not rely on more that N% of these funds. And, not, I don’t remember how much N is, but it’s reasonably low. The reason is twofold:
- Retain the value of the fund.
- Don’t make the state budget depend on it too much.
It is entirely possible to change this number of passed by a majority at the parlament.
Source: Am noggie
EDIT: The percentage that can be used follows the profit, which is estimated at 3-4%
On a personal level I would be pissed if had saved money for decades and had to piss it away by blowing up orcs because the fucks can’t stay in Mordor.
Pissed at who, though?
Either way, this sentiment ignores the point in the text about war related profits.
On a personal level, I would be pissed if my country was being invaded by a common enemy and all the other nations in the world ignored us and let us die and lose a bunch of territory after pretending they gave a shit for a few years.
Russia is a large country with proven animosity for various countries and global organizations. They will not stop at Ukraine. Do you really believe the Russian justification for this war is true? This is an existential threat to the EU and Norway is not acting like it.
To be perfectly honest, Norway should remember where that money actually comes from (petroleum) and who will help them protect it should it ever be threatened by an entity such as Russia (with whom they share a border).
Comments like this highlight how much some people are getting brainwashed
Right? Imagine referring to an entire people as “orcs” and coming out thinking you’re not completely propagandized
Dehumanization.
As much as I disapprove of Russia’s behavior, I have alot in common with the working class in the country. If only we could cast off these parasites we call leaders and find a way towards true ever lasting peace.
Divided we are conquered, together we are free.
What sentence in this article says who is suggesting this, I can’t find it.
It’s indirectly referring to the sovereign fund, but (emphasis mine):
“Norway is one of the few countries that has large amounts of money readily available, and we must therefore multiply our support for Ukraine immediately,” Liberal Party leader Guri Melby said on Saturday.
Norway’s support should be increased “significantly” and “fast”, Norway’s former Conservative prime minister, Erna Solberg, said in a statement. “The government can safely assume there is will in Parliament to give more,” she added.
The leader of the Greens, who are currently polling at 2.7%, reiterated their proposal that Norway should pledge €85.5 billion to Ukraine.
Ah I see it just infers it will dip into it and doesn’t provide much detail, thank you kind sir.
