Hundreds of businesses manufacturing weapons and military equipment have sprung up in Ukraine since the start of the all-out offensive by Russian forces in 2022.। However, the lack of cash and the Russian attack have faced the Ukrainian arms sector. Many businesses in this sector are struggling to get financing for production। At the same time, increasing intensity of Russian missile attacks in the country has raised fears among businessmen that their businesses will be targeted। Friday (April 19) British news agency Reuters reported this news।
According to the report, the owners said that they are pouring money from their own pockets in order to fix the business in such a critical situation. They are even cutting their pockets to avoid the eyes of Russian intelligence and move their businesses to other places. In this situation, the owners have requested the government to reduce all the strictures related to the purchase of weapons.
Many of these owners complain that the government is unable to buy all the products they produce. So they are asking permission to export weapons.
According to Oleksandr Kamyshyn, Ukraine’s Minister of Strategic Industries, the country’s military industry currently has the potential to produce $18-20 billion worth of equipment annually.
The cash-strapped Ukrainian government is able to finance about a third of the military goods it produces, the minister told Reuters in an interview.
During the war, Ukraine received 12 billion worth of military aid from allies. Most of this cooperation was not in cash, but in military equipment.
Kamishin said, ‘We are fighting the biggest fight in a generation… If you notice, for example, the production capacity of the US and the EU in NATO-caliber artillery shells is less than what we need.’
After the collapse of the Soviet Union, many large state-owned defense enterprises in Ukraine collapsed. As a result of war disruptions, the country has now started producing weapons in the private sector.
According to the Ministry of Industry, the number of defense manufacturers in the country has more than doubled since the attacks. The number of private enterprises is now about 400 to 100 are now state owned.
Ukraine has sought funding from foreign partners for defense production to cover this cash crunch. Denmark is the first country to respond to such a call. On Tuesday, the country pledged 28.5 million dollars to Ukraine.
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