💥 Fed cuts sparks mid cap boom! ProPicks AI scores with 4 stocks +23% each. Get October’s update first.Pick Stocks with AI

British-led coalition to provide Ukraine with anti-drone systems

Published 18/08/2023, 00:03
© Reuters.
GBP/USD
-

LONDON (Reuters) - A British-led group of European countries said on Friday it would provide about 90 million pounds ($115 million) of air defence equipment to help Ukraine defend itself against Russian attacks.

This includes a 56-million-pound contract with the Norwegian defence company Kongsberg to provide vehicle-mounted Cortex Typhon systems, which are used to detect and destroy drones.

"These air defence systems have the capability and flexibility to be rapidly deployed to either protect Ukraine’s civilian population and infrastructure, or be put to use on the frontline," said Britain's defence minister Ben Wallace.

The International Fund for Ukraine - a group of countries including Britain, Norway, the Netherlands, Denmark and Sweden - has also agreed two other contracts for air defence equipment, which will be revealed at a later date.

Both Ukraine and Russia have stepped up attacks on each other's troops recently as Ukraine seeks to dislodge Russian forces that have dug in across southern and eastern Ukraine since their invasion last year.

Odesa, Ukraine's largest port and naval base, has been repeatedly attacked with missiles and drones after Russia pulled out of an agreement allowing grain shipments from Ukraine's ports in July.

($1 = 0.7841 pounds)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.