Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2026 GBAF Publications Ltd - All Rights Reserved. | Sitemap | Tags | Developed By eCorpIT

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Finance > US defense contributions 'unfair,' Europe needs to do more, incoming Lithuanian minister says
    Finance

    US defense contributions 'unfair,' Europe needs to do more, incoming Lithuanian minister says

    Published by Global Banking & Finance Review®

    Posted on December 11, 2024

    3 min read

    Last updated: January 27, 2026

    This image illustrates the complexities faced by private equity firms in Europe as they navigate exit challenges and seek lucrative deals, reflecting the current financial climate discussed in the article.
    Private equity market challenges in Europe amid changing financial landscape - Global Banking & Finance Review

    Quick Summary

    Lithuanian minister urges Europe to increase defense spending, calling US contributions unfair. Focus on Russia and China threats.

    US Defense Spending Criticized by Lithuanian Minister

    NEW YORK (Reuters) - Lithuanian Defence Minister Dovile Sakaliene said on Wednesday that the large U.S. proportion of Western defense spending is unfair to Washington and that Europe needs to step up and bolster its defense industries to deter Russia and China.

    "Europe has to pull its weight" on contributions to defense, Sakaliene said in an interview at the Reuters NEXT conference in New York. "It's unfair that contributions of the United States are still so disproportionately large," she said.

    Her comments echo remarks from members of the incoming administration of President Donald Trump. She praised the muscular approach to policy of Trump's nominee for defense secretary, Pete Hegseth.

    Sakaliene said that the "indecisiveness, weakness and compromise of the Western world" led to the point where it has problems procuring one million rounds of munitions for Ukraine.

    Hegseth, whose nomination as head of the Pentagon needs to be approved by the U.S. Senate, has run into trouble due to allegations of misconduct in his professional and personal life, including accusations of sexual assault, which he denies.

    Sakaliene said: "I really like some of his thoughts and ideas, which makes him very tough."

    She pledged to keep Lithuania's defense spending at 3.5% of its gross domestic product next year, and said it could later go as high as 5%.

    Changes to Russia's economy indicate it has military ambitions beyond Ukraine, she said, speaking via video link from Vilnius.

    "My only worry and concern is that if we have an illusion that freezing the war in Ukraine...it will allow Russians firstly to prepare for the third wave of annihilation of Ukraine and, secondly, for their next steps of imperial expansion," Sakaliene said when asked about Trump's promises to bring the war in Ukraine to a swift end.

    "Because they have transformed their economy from a peacetime economy to a military economy for a reason, and Ukraine is not reason enough for such huge changes," she added.

    Lithuania borders both Russia and its ally Belarus, and the incoming minister said she is more worried that Russia might invade it than she was a decade ago.

    Sakaliene said the pragmatic argument for the United States to stay involved in Europe is that it needs European support in its confrontation with China, and if Europe "is hurt by Russia," that would lead to bad consequences for the United States.

    "I'm very realistic, and I understand that Europe is not even in the top three of the priorities of the United States. Priority number one is the United States. And then it's Taiwan, and then it's Israel, and then Europe", she said.

    "The war in Taiwan is coming, I think it's clear to all of us," she added.

    To view the live broadcast of the World Stage go to the Reuters LIVE page:

    (Writing by Andrius Sytas in Vilnius; Editing by Alex Richardson and Alistair Bell)

    Key Takeaways

    • •Lithuanian minister calls US defense contributions unfair.
    • •Europe urged to increase defense spending against Russia, China.
    • •Sakaliene supports Trump's defense nominee Pete Hegseth.
    • •Lithuania plans to increase its defense budget to 5%.
    • •US needs European support against China, says Sakaliene.

    Frequently Asked Questions about US defense contributions 'unfair,' Europe needs to do more, incoming Lithuanian minister says

    1What is the main topic?

    The article discusses the Lithuanian minister's call for Europe to increase its defense spending, citing unfair US contributions.

    2Why does the minister believe Europe should contribute more?

    The minister believes Europe should contribute more to deter threats from Russia and China and to support the US.

    3What are Lithuania's defense spending plans?

    Lithuania plans to maintain its defense spending at 3.5% of GDP, potentially increasing to 5%.

    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    More from Finance

    Explore more articles in the Finance category

    Image for French miner Eramet's finance chief steps aside temporarily, days after CEO ouster
    French miner Eramet's finance chief steps aside temporarily, days after CEO ouster
    Image for Ukraine's Zelenskiy calls for faster action on air defence, repairs to grid
    Ukraine's Zelenskiy calls for faster action on air defence, repairs to grid
    Image for Goldman Sachs teams up with Anthropic to automate banking tasks with AI agents, CNBC reports
    Goldman Sachs teams up with Anthropic to automate banking tasks with AI agents, CNBC reports
    Image for Analysis-Hims' $49 weight-loss pill rattles investor case for cash-pay obesity market
    Analysis-Hims' $49 weight-loss pill rattles investor case for cash-pay obesity market
    Image for Analysis-Glencore to focus on short-term disposals as Rio deal remains elusive
    Analysis-Glencore to focus on short-term disposals as Rio deal remains elusive
    Image for Belgium's Agomab Therapeutics valued at $716 million as shares fall in Nasdaq debut
    Belgium's Agomab Therapeutics valued at $716 million as shares fall in Nasdaq debut
    Image for Big Tech's quarter in four charts: AI splurge and cloud growth
    Big Tech's quarter in four charts: AI splurge and cloud growth
    Image for EU hikes tariffs on Chinese ceramics to 79% to counter dumping 
    EU hikes tariffs on Chinese ceramics to 79% to counter dumping 
    Image for AI trade splinters as investors get more selective
    AI trade splinters as investors get more selective
    Image for EU extends tariff suspension on $109.8 billion of US imports for six months
    EU extends tariff suspension on $109.8 billion of US imports for six months
    Image for Dog food maker Ollie acquired by Spain’s Agrolimen
    Dog food maker Ollie acquired by Spain’s Agrolimen
    Image for Salzgitter to take over HKM steel joint venture, end clash with Thyssenkrupp
    Salzgitter to take over HKM steel joint venture, end clash with Thyssenkrupp
    View All Finance Posts
    Previous Finance PostMaersk sees global container volumes rising as much as 7% in 2025, exec says
    Next Finance PostDecathlon CEO says France is unstable after no-confidence vote