EU military spending is set to hit a fresh record of 381 billion euros in 2025, as countries plough more money into warding off Russia, the bloc’s defense agency said Tuesday. The 10-percent rise comes as European members of NATO have committed to massively ramp up spending under pressure from US President Donald Trump.

“Europe is spending record amounts on defense to keep our people safe, and we will not stop there,” EU foreign policy chief Kaja Kallas said. The European Defense Agency (EDA) said that of the money being spent this year, close to 130 billion euros was being spent on investments such as new weaponry. European countries have stepped up spending sharply since Russia invaded Ukraine in 2022.

A 150-billion-euro EU loan scheme intended to help countries ramp up defense spending has been fully subscribed, the European Commission said last week, with 19 of the 27 member states applying for funds. The SAFE plan enables member states to get cheaper loans backed by the EU’s central budget. (AFP)