Connect with us

Hi, what are you looking for?

Economy

NATO chief urges members to ‘turbocharge’ defense production as he paints picture of a world bound for war

NATO Secretary General Mark Rutte painted a grim picture of the world and called on Europe and Canada to ramp up their defense spending Thursday.

Rutte made the comments during an address to member countries at a Carnegie Europe conference in Brussels. He issued stark warnings about Russia’s alleged ambitions beyond Ukraine as well as China’s own growing aggression.

‘I’ll be honest, the security situation does not look good,’ Rutte began, calling it the worst in his lifetime. ‘From Brussels, it takes one day to drive to Ukraine. That’s how close the Russian bombs are falling. It’s how close the Iranian drones are flying, and not much further, the North Korean soldiers are fighting.’

Rutte went on to argue that Putin poses a wider threat to Europe beyond Ukraine, saying he ‘wants to crush our freedom and way of life.’

‘This all points in one clear direction: Russia is preparing for long-term confrontation – with Ukraine and with us,’ Rutte said. ‘It is time to shift to a wartime mindset.’

Rutte’s remarks come just weeks before President-elect Trump enters office after campaigning on an anti-war platform. Trump has, however, likewise urged NATO’s other members to pay their fair share of the organization’s defense budget.

Trump has also said he does not plan to abandon Ukraine. He said he will advocate for a peace agreement with Russia, but has not elaborated on what that would entail.

NATO members agreed to work toward spending 2% of their annual GDP on defense, following Russia’s annexation of Crimea a decade ago.

Only six member nations met the 2% goal in 2021, but this year, NATO expects a record 23 of 32 member nations to hit the Western military alliance’s spending goals, according to data released over the summer.

Since Russian President Vladimir Putin’s invasion of Ukraine in 2022, NATO leaders have emphasized that the 2% target should be considered a minimum.

Poland and Estonia both led the United States this year in the percentage of their GDP they spend on defense, according to NATO. The U.S. is estimated to spend 3.38% of its GDP on defense.

Rutte, who stepped into the NATO role on Oct. 1, was the Dutch prime minister during Trump’s first term and had a reputation as a ‘Trump whisperer,’ Politico reported.

Fox News’ Hannah Ray Lambert contributed to this report.

This post appeared first on FOX NEWS

World biggest companies

Learn Trading With Online Courses, Classes, & Lessons

You May Also Like

Investing

2023 was a relatively lackluster year, silver largely traded on volatility between US$22 and US$25 per ounce. The white metal started 2024 with less...

Latest News

Dong’s experience, both as head of the People’s Liberation Army Navy (PLAN) as well as operational assignments in the Chinese military’s Eastern and Southern...

Investing

The US was one of the world’s top silver producers in 2023, recording output of 1,000 metric tons (MT). While that’s far below first-place...

Investing

The Canadian pharmaceutical market is the eighth largest in the world and accounts for 2.2 percent of the global prescription drug market. But what...

Disclaimer: GreatWallStreetPublisher.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2024 GreatWallStreetPublisher.com