On 29 September, Minister of Strategic Industries Herman Smetanin, Minister of Defence of Ukraine Rustem Umerov and Minister of Defence of Denmark Troels Lund Poulsen signed a Letter of Intent. The letter states that Denmark will increase its financial support to the Ukrainian defence industry.

Denmark finances the production of weapons in Ukraine to the amount of 4.2 billion DKK, or USD 629 million. DKK 1.3 billion from this amount will come from the Danish state budget and DKK 2.9 billion from frozen Russian assets managed by Denmark on behalf of the EU.

“I am very pleased that this agreement represents a significant step forward in our efforts to provide financial assistance to Ukraine for the direct purchase of arms from Ukrainian defence companies. Denmark has successfully led the way in this area, and now the EU has decided to support these efforts substantially. This makes it possible to attract much more financial resources. I hope that other countries will support Ukraine's fight for freedom in the same way”, — said Troels Lund Poulsen.

The list of weapons to be financed by the partners has also been extended. These include ATGMs, UAVs and artillery systems.

“We are grateful to the Danish government and people for their support and for the fact that it does not stop. We are grateful for your leadership in supporting the Ukrainian defence industry. Your funds will allow us to put more and faster weapons on the battlefield, and at the same time give the Ukrainian economy the strength to withstand this war. It is a great honour for us to have such allies as Denmark,”, — Herman Smetanin said.

“Today we have taken an important step towards strengthening Ukraine's defence capabilities. The Letter of Intent signed with Denmark will help attract nearly €600 million in investment to our defence industry. We are open to new models of cooperation with other European countries. Our goal is a strong defence industry and restoring Ukraine's territorial integrity”, — Rustem Umerov said.