EUROPEAN DEFENSE COMPANIES, ESPECIALLY smaller businesses, are being blocked from investment they sorely need by sustainability rules, a senior NATO official and several industry figures have said.
The claims come as NATO’s continental members urgently try to boost defense spending and production in the face of worrying moves from Russia, China, Iran and North Korea.
Europe’s financial sector “says it’s not ethical to invest in defense industry,” or to support “an industry that also produces things for the nuclear weapons in the world,” Admiral Rob Bauer, the outgoing chief of NATO’s military committee, said in an interview with Newsweek. “To those, I say, ‘Go to Syria, go to Gaza, go to Ukraine, go to Yemen. See what war does to a country, to a city, to people.’”
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