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German defense contractor warns that EU arms stockpiles are depleted
(MENAFN) Armin Papperger, CEO of German arms manufacturer Rheinmetall, has warned that the European Union has depleted its weapons stockpiles due to the ongoing Ukraine conflict, leaving it vulnerable to potential Russian threats. Speaking at the Munich Security Conference, Papperger highlighted the continuing high demand for arms, even in the event of a ceasefire between Ukraine and Russia.
He pointed out that both Europe and Ukraine have minimal reserves, emphasizing that even if the war in Ukraine ends, it would be premature to assume a peaceful future. Despite an over 30% increase in EU defense spending between 2021 and 2024, Papperger stated that it is still insufficient to meet current security needs. He criticized European nations for neglecting defense investments for decades, which, in his view, led to their exclusion from the recent US-Russia talks in Riyadh.
Papperger noted that Rheinmetall stands to benefit from increased weapons spending, as the EU faces a growing military threat from Russia. Meanwhile, the US has signaled that it intends to reduce its direct military involvement in Ukraine, shifting more responsibility to European allies. Ukrainian President Zelensky, in turn, has pushed for NATO security guarantees and called for an expansion of Ukraine’s military to 1.5 million troops.
Rheinmetall has already seen a significant boost in business, with projected annual sales set to rise dramatically from $6 billion in 2021 to $32-$43 billion within five years. However, Moscow continues to criticize Western arms shipments to Ukraine, arguing that they prolong the conflict and increase the risk of a direct Russia-NATO confrontation.
He pointed out that both Europe and Ukraine have minimal reserves, emphasizing that even if the war in Ukraine ends, it would be premature to assume a peaceful future. Despite an over 30% increase in EU defense spending between 2021 and 2024, Papperger stated that it is still insufficient to meet current security needs. He criticized European nations for neglecting defense investments for decades, which, in his view, led to their exclusion from the recent US-Russia talks in Riyadh.
Papperger noted that Rheinmetall stands to benefit from increased weapons spending, as the EU faces a growing military threat from Russia. Meanwhile, the US has signaled that it intends to reduce its direct military involvement in Ukraine, shifting more responsibility to European allies. Ukrainian President Zelensky, in turn, has pushed for NATO security guarantees and called for an expansion of Ukraine’s military to 1.5 million troops.
Rheinmetall has already seen a significant boost in business, with projected annual sales set to rise dramatically from $6 billion in 2021 to $32-$43 billion within five years. However, Moscow continues to criticize Western arms shipments to Ukraine, arguing that they prolong the conflict and increase the risk of a direct Russia-NATO confrontation.
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