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By Lisa KLEMANN, Counsel Garry REULAND, Senior Associate, KLEYR_GRASSO
Driven by the urgent need for stronger collective security, the EU has entered a new era of defence cooperation and investment. The Russian Federation’s invasion of Ukraine in February 2022 was as a catalyst for a decisive shift in the EU defence policy. In response, the Versailles Declaration of 11 March 2022 marked a strategic turning point with Member States committing to substantially increase defence spending and enhance cooperation in defence investment.
The European Defence Agency’s 2023 Defence Data report highlights the scale of this shift. Defence expenditure across the EU reached an unprecedented €279 billion, representing a 10% year-on-year increase and...
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