Media reports said as much as $700 billion could be allocated to Europe's defenses, though it was not clear how much of that amount would go to Kyiv.

Summary

European officials are preparing a multibillion-dollar defense package to bolster regional security and support Ukraine, announced by German Foreign Minister Annalena Baerbock at the Munich Security Conference.

The package, potentially valued up to 700 billion euros, will fund military training, arms deliveries, and security guarantees amid concerns over Russian aggression and diminishing U.S. contributions to NATO.

The move follows calls for Europe to boost its own defense spending while U.S.-Russian talks, which exclude Ukraine and Europe, on ending the Ukraine conflict continue.