Germany's €3 Billion Military Aid Breakthrough for Ukraine

Germany announces €3 billion in military aid to Ukraine, marking a significant policy shift. Finance Minister Joerg Kukies confirmed the decision to parliament, following previous resistance by outgoing Chancellor Olaf Scholz. This comes alongside a parliamentary vote on reforming fiscal rules.

Germany is set to extend an additional €3 billion in military aid to Ukraine, marking a critical policy shift by the government. The announcement was confirmed by Finance Minister Joerg Kukies to the parliament's budgetary committee through a document seen by Reuters.

This move comes as a breakthrough after outgoing Chancellor Olaf Scholz had previously blocked the support, demanding more flexible borrowing regulations. Scholz had insisted on adjusting these rules as a condition of providing further aid.

The timing coincides with a pivotal parliamentary vote on the reform of fiscal policies, which aims to address broader financial governance issues. The current exchange rate stands at $1 equaling 0.9173 euros.

(With inputs from agencies.)