Ukraine Loses Millions in Arms Deals
(MENAFN) A recent investigation by the media has unveiled that Ukraine has squandered approximately USD770 million attempting to purchase military equipment from unreliable or obscure suppliers.
Drawing from court records, leaked governmental documents, and interviews with key figures, the report provides insight into Ukraine’s frantic efforts to secure weaponry after the intensification of the conflict in 2022.
According to the report, Ukrainian authorities frequently made “large amounts in advance to little-known companies for materiel that to this day has never arrived.”
One instance involved an unremarkable firearms store located in Arizona.
The store's proprietor was paid EURO17.1 million (USD19.1 million) upfront as part of a broader EURO49 million agreement. Despite the payment, the arms were never delivered.
Although Ukraine won an arbitration case regarding the failed transaction, the funds have yet to be retrieved, the media noted.
Since the outbreak of war, Ukraine has allocated between USD6 billion and USD8 billion each year from its national budget toward military procurement.
Out of this expenditure, USD770 million in prepayments was handed over to intermediaries who ultimately did not fulfill their obligations.
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