Ukraine News Updates – May 29, 2025
U.S.–Ukraine Investment Fund Launched On May 23, Ukraine and the U.S. officially launched the U.S.–Ukraine Investment Fund after completing all formalities. Jointly managed by DFC and Ukraine's PPP Agency, the fund will invest in natural resource extraction, energy, ports, and infrastructure.
Ukraine, KNDS to Co-Produce Ammunition Ukroboronprom and KNDS Belgium signed a memorandum to produce medium-caliber ammunition for automatic cannons jointly. The deal strengthens Ukraine’s defense industry and deepens integration with NATO’s military supply chains.
Sweden Provides $500M Ukraine Defense Package
Sweden allocated 4.8 billion kronor ($502 million) as part of its 19th aid package to strengthen Ukraine's defense capabilities. The funding supports multiple coalitions, including drone procurement, demining equipment, naval training, and IT systems.
Germany Considers Ukraine Long-Range Missile Development
Germany plans to allocate millions to help Ukraine independently develop cruise missiles with ranges up to 2,500 kilometers, according to Bild. This represents Chancellor Friedrich Merz's alternative approach to providing long-range capabilities without delivering Taurus missiles directly.
UK Directs $3B Russian Assets for Ukraine Defense
The UK, Ukraine's Defense Ministry, and Strategic Industries Ministry signed an agreement to use $3 billion from frozen Russian asset profits through the Extraordinary Revenue Acceleration initiative. Funds will support foreign defense procurement, military equipment repairs, joint Ukrainian-international defense projects, and critical materials including Ukrainian-produced weapons.
Ukrainian Fund TA Ventures Backs MENA AI Startup Ukrainian fund TA Ventures joined a $15M Series A round for Tarjama, a leading MENA language tech company. Funds will scale Arabic.AI and its LLM Pronoia V2, claimed to outperform GPT-4o in Arabic. Tarjama will boost R&D, infrastructure, and launch an AI academy for regional business leaders.