yacht 500 millions d'euros

The ask didn't go over well. It caused so much public outcry, in fact, that more than 1,000 residents threatened to throw eggs at the yacht if the dismantling came to fruition. Oceanco later withdrew its request to dismantle the bridge , and the yacht was quietly towed under cover of night to another shipyard.

During that voyage, the yacht was towed without its masts, which would be installed later, and it avoided going through the city center and past the Koningshaven Bridge, according to German magazine Der Spiegel .

Watch the latest video of Bezos' yacht here:

Read the original article on Business Insider

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Jeff Bezos’s New Yacht Comes With Its Own Yacht?

Another day, another reason that we must simply eat the rich. Construction is almost complete on the $500 million superyacht purchased by Amazon Daddy and Lizzo superfan Jeff Bezos. The 417-foot-long monstrosity, which Bezos bought two years ago, is among the biggest ever built in the Netherlands, the unofficial big-boat-building capital of the world.

What does a yacht longer than a football field come with? Multiple decks, an “ ambient cinema,” and its own support yacht. Yes, the yacht comes with its own yacht.

Project Y721 — the big boat’s temporary name — also has its own helipad. This is apropos given the rumors that Bezos’s sudden interest in helicopters may be what exposed his affair with now-girlfriend and famously “alive girl” Lauren Sanchez.

On top of the half-a-billion-dollar price tag, operating costs for the yacht will average about $60 million a year, per Bloomberg . To put that into context, for someone who makes $68,700 a year, the current median income in the U.S., that’d be like paying $23 in yearly operating costs. A pittance for the literal richest man on the planet.

Bezos isn’t the only rich person continuing to do rich-person things amid a struggling global economy. As Bloomberg reports, the yacht industry is among the few markets that thrived despite the spread of coronavirus. This shouldn’t come as any surprise, given the pandemic made the rich even richer . Bezos, for example, saw his wealth increase by 57 percent, per CBS News . Between March 18, 2020, and March, 18 2021, Bezos’s worth grew from $113 billion to $178 billion. Last year, the median income among Amazon employees was $29,007, per Business Insider .

Perhaps this purchase is Bezos in full post-divorce crisis mode. (He did buy the yacht the same year he and MacKenzie Scott announced they would be splitting.) While Scott recently remarried , Bezos continues to surround himself with the biggest, dumbest things money can buy. If anything, this all just further proof that the only good boats are the ones that get stuck .

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Bezos' Wait Is Over — World's Largest Superyacht Worth $500 Million Finally Delivered To Amazon Founder

Amazon  (NASDAQ: AMZN) founder Jeff Bezos   has finally gotten his pricey, luxurious superyacht that has been catching eyes. 

What Happened: The superyacht, which was reportedly priced at $500 million and ordered by Bezos, was handed to its new owner on Thursday, Business Insider reported, citing yachting publication Boat International.

The vessel, otherwise known as Koru, is 127 meters long, the world’s largest sailing yacht and the largest one built in the Netherlands, according to Boat International. 

Sea trials of the vessel had been taking place since February, marking the final phases of construction. Construction of the yacht, which previously went by the code name Y721, took about five years. 

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Must Read: Bezos' Wait Is Over — World's Largest Superyacht Worth $500 Million Finally Delivered To Amazon Founder

At one point last year, Oceano, the Dutch custom yacht builder responsible for Koru, found itself mired in controversy when it requested the dismantling of a historic bridge in Rotterdam to allow for Koru’s three tall masts to pass under the bridge. Locals protested against the dismantling, forcing Oceano to tow the boat under the cover of night to another shipyard without its masts. The masts were installed later.

In early March, reports had suggested the yacht was ready to set sail en route to its new owner.

The yacht is reportedly the tallest in the world, with a height of 230 feet, and requires a crew of 40 sailors to operate. Apart from its $500 million price tag, it also involves an annual operating cost of $25 million.

Why It's Important: Bezos, who stepped down as Amazon's CEO but continues to be the e-commerce retailer's executive chairman, is the world’s third-richest man with a net worth of around $125.1 billion, according to Forbes.

The Amazon founder is well known as the partying type — in 2022, he and his girlfriend Lauren Sanchez ringed in the new year on a $42,000 per week superyacht in the Caribbean.

Read Next:  Construction Of Jeff Bezos' Beverly Hills Megamansion Stalled Following Attempt To Expand Property

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

This article Bezos' Wait Is Over — World's Largest Superyacht Worth $500 Million Finally Delivered To Amazon Founder originally appeared on Benzinga.com

The Most Incredible Features Of Jeff Bezos' $500 Million Mega Yacht

Jeff Bezos, the second-richest man in the world, will soon be the owner of a $500 million newly-constructed mega yacht in the Netherlands. While there is not a lot of information about the super yacht, there are a few facts that can be gleaned from the ship manufacturer's website and also several media publications. However, what is confirmed is that this yacht is supposed to be 417 feet long (127 meters), have several decks, and feature three gigantic black masts (via Bloomberg ).

The ship is called the Y721 and it is reportedly made by Oceanco, a custom ship builder that produces some of the world's largest and most luxurious boats. The company is owned by Omani billionaire businessman , Mohammed Al Barwani, and is based in the Netherlands. According to the luxury magazine  Robb Report , this uber-luxurious boat is expected to be the world's largest sailing yacht when completed.

It is super-sized

As superyachts go, the Y721 is extremely large. At 417 feet, it is one of the largest sailing yachts ever built in the Netherlands, according to Time Magazine . It is so colossal that for it to sail out of the harbor to go to the ocean, it has to pass by an iconic Dutch steel bridge that has a center part that can be removed so the vessel can pass through safely. This bridge, known as De Hef (literally translated as The Lift), is a lift bridge that can raise 130 feet in the air. That still isn't high enough to accommodate the yacht's tall masts, and the process of raising the bridge so the ship can exit can't be described as simple, either. Additionally, the breadth of its sails and supports makes it unsafe for a helicopter to land on the yacht without clipping its masts, so Bezos has reportedly commissioned a support yacht with a helipad to travel alongside the titanic cruiser (via Time).

The 246-foot shadow yacht known as the YS7512 will be the base for the Amazon billionaire's helipad, but it will also feature meeting spaces, and storage for his jet skis, water toys, and snorkeling and diving gear. It can accommodate up to 45 crew and guests (via Architectural Digest ).

It is a clean, green machine

In Brad Stone's book, "Amazon Unbound: Jeff Bezos and the Invention of a Global Empire," the vessel is described as being "one of the finest sailing yachts in existence." Although this luxury cruiser will almost certainly have fineries fit for a business mogul like Bezos, it is also said to be environmentally friendly. Oceanco based the blueprint on its award-winning , sustainable Black Pearl Yacht. The company says on its website that this ship is one of the largest and most eco-friendly sailing yachts in the world, and can cross the Atlantic without burning any fossil fuel.

It features technology such as DynaRig carbon masts, solar power, and a hybrid-propulsion system. It also has a waste-heat recovery system onboard that uses thermal energy and residual heat from exhaust gas to transform into electrical energy. While the construction of the superyacht has been reported by multiple media sources, the Daily Mail reports that Oceanco has declined to comment on whether this yacht was commissioned by Jeff Bezos.

Bezos can fly to the yacht, but only with the help of a support vessel

If Bezos is on land and the superyacht isn't docked, the Amazon owner isn't going to have to row back to his vessel when he wants to get on board — he can simply take a short flight to the boat via helicopter (via Bloomberg ), though that requires him to land on a support yacht. Using a helicopter to fly to his yacht is something that would have, at one point in time, sounded very unlikely given Bezos' mixed history with whirlybirds. He actually survived a helicopter crash back in 2003 when scouting for sites to use for his spacefaring venture Blue Origin. 

Bezos was on board with the pilot and two staff members when the overloaded aircraft started to struggle after taking off. The pilot was left dodging trees and desperately trying to get the helicopter out of danger. He didn't succeed, and eventually, the tail boom collided with a tree, causing the chopper to spin. The helicopter eventually ended up in a creek, but Bezos walked away from the incident. Recalling the crash in Fortune Magazine, Bezos quipped, "I thought, what a dumb way to die."

Given the circumstances, it is unsurprising that Bezos allegedly hated helicopters for many years. However, his hatred of the transportation method had reportedly evaporated by 2018 and been replaced by enthusiasm. It was this switch in attitude that, according to the New York Post , alerted Amazon executives to Bezos' affair with helicopter pilot and owner of Black Ops Aviation Lauren Sanchez. Bezos would eventually divorce his wife and the mother of his four children, MacKenzie Scott, and make his relationship with Sanchez public.

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Jeff Bezos' rumored $500 million yacht has finally made its maiden voyage

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A $500 million yacht believed to belong to Jeff Bezos has been delivered to the Amazon founder.

The 417-foot vessel, the largest sailing yacht in the world, recently made its maiden voyage to Gibraltar, according to Boat International.

It previously stirred controversy for nearly dismantling a historic bridge for it to pass.

A $500 million megayacht believed to be commissioned by Amazon founder Jeff Bezos has finally completed construction and made its maiden voyage.

The vessel, called Koru, left facilities owned by Dutch shipmaker Oceanco on Thursday and traveled to Gibraltar, according to yachting publication Boat International . At 417 feet long, the boat is believed to be the largest sailing yacht in the world.

It began sea trials  — a series of tests that mark one of the last phases of construction — in February.

The ship's construction hit a few snags over the over the past year. Last year, Oceanco, requested that a historic bridge in Rotterdam be dismantled because the yacht's three masts were too tall to pass under the bridge, despite its 131-foot clearance.

The 100-year-old Koningshaven Bridge, known to locals as "De Hef," was renovated in 2017, at which point the city vowed not to take it apart again, according to Dutch broadcaster Rijnmond .

The request sparked public outcry, prompting more than 1,000 residents to threaten to throw eggs at the yacht if the bridge ended up being dismantled. Oceanco later nixed its request , and the yacht was towed under cover of night to another shipyard, without its masts, which were installed later.

Read the original article on Business Insider

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The 500 million euro superyacht abramovich is building will be world's most powerful.

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I mages of the superyacht Chelsea owner Roman Abramovich is building have been revealed.

The 500-million euro project will result in the world's most powerful yacht.

Complete with a helipad and 48 cabins, the 460-foot yacht, known as 'Solaris', has been photographed by Carl Groll.

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Although still to be water tested, the boat, which is being built in Germany, should have capacity for 36 passengers and 60 crew members.

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For sale: Five yachts for sale under €5 million

Related articles, superyacht directory.

Owning a luxury yacht doesn't have to cost you hundreds of millions. We shine a light on five standout superyachts currently listed for sale for less than €5 million to show you how much boat you can buy for just seven figures...

A finalist for the 2023 BOAT International Design and Innovation Awards in two separate categories – ‘Outstanding Exterior’ and ‘Best New Series’ – Edge sets a new standard for smart arrangement and extensive use of glass. The SARP Yachts build is a testament to synergetic style, showcasing naval architecture by Van Oossanen and interior and exterior by Red Yacht Design . Playing with light and visibility, integrated glass surrounds the entire saloon of the 25.9-metre motor yacht, allowing guests to soak up her natural surroundings and sea views. 

Edge is asking €4,950,000 with Denison Yachting.

Spirit of Venice

A synthesis of high-quality materials along with a respect for tradition and history endow 27.3-metre Spirit of Venice with a classic masterpiece quality. Penned by Olivier van Meer , who also conducted the naval architecture, the yacht's interiors are characterised by traditional styling and showcase a collection of artworks. Thanks to her reduced draft, she can enter smaller harbours and shallow sailing areas, while her stern platform allows easy access for her tender to slide into the water. She was built by VMG Yachtbuilders and delivered in 2018.

Spirit of Venice is asking €2,100,000 with Northrop & Johnson.

Wally vessels are a major contender in the world of sailing – and Y3K sets her own pace with an impressive racing pedigree in superyacht regattas. She boasts three consecutive Maxi Yacht Rolex Cup trophies, in part thanks to her powerful sail plan (she flies 1,162 square metres of sail downwind). Her sleek racing lines are met with a flush teak-decked terrace-on-the-sea aft, creating the perfect spot to relax, even underway. Equipped with a full racing wardrobe and equipment, the 30.5m sloop is ready to race.

Y3K is asking €3,800,000 with Bernard Gallay Yacht Brokerage.

Delivered in 2021 by Italian shipyard Extra Yachts , 26-metre Haze sports a “penthouse feel” with a full-beam master suite and interior design by Lawson Robb . Modern lines and eco-focused photo-voltaic cells set the tone for the motor yacht’s exterior design, while entertainment facilities include a tiered 50-square-metre open-air beach club with shaded al fresco dining, an aft-facing sofa set-up and steps leading to a hydraulic swim platform.

Haze is asking €4,400,000 with Fraser.

The first catamaran built by JFA Yachts and the first project undertaken by naval architect Joubert-Nivelt, 25.6-metre Azizam is built to cruise the world’s oceans quickly, comfortably and safely. Encouraging an al fresco experience when sailing, the aft deck is well-covered with ample dining and lounging areas. Set apart from many other catamarans, Azizam'’ s port transom opens hydraulically to allow easy boarding from the tender, and it also doubles up as a large beach club and swim platform. Her collection of water toys encourages guests to spend hours on the water, before lounging on trampolines on the foredeck.

Azizam is asking €2,200,000 with Northrop & Johnson.

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€30 Million Euros Yachts for Sale

Immerse yourself in the pinnacle of maritime opulence with our exclusive collection of yachts, each valued at €30 million. This fleet represents the zenith of luxury yachting, crafted for the visionary who seeks not just to explore the world but to do so ensconced in unparalleled elegance and sophistication. Each vessel is a masterpiece, embodying the ultimate in design, technology, and craftsmanship, and setting a new standard for the yachting experience.

The interiors of these yachts are realms of unrivaled luxury, where every detail has been meticulously selected and crafted to create an ambiance of exquisite refinement. From the opulent staterooms to the grand salons and state-of-the-art entertainment systems, these spaces offer a seamless blend of comfort and style, designed to satisfy the most discerning tastes.

Externally, these yachts are a testament to the art of naval architecture, with sleek lines and imposing profiles that command attention in any marina. The deck areas are conceived as extensions of the luxurious lifestyle onboard, featuring bespoke alfresco dining settings, sun-drenched lounges, and lavish pools, all designed to offer an unrivaled experience of the sea.

Performance-wise, these yachts are without equal. Equipped with the latest in navigational technology and powered by engines that blend efficiency with formidable power, they offer smooth, exhilarating voyages across the globe’s most challenging waters, ensuring every journey is as remarkable as the destinations.

Owning one of these exceptional yachts is not merely a purchase; it is an ascent to the apex of global yachting, a testament to a life lived without compromise, where every detail is a reflection of the quest for perfection.

Used €30 Million Euros Yachts for Sale

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55m | Amels | 2012

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50.01m | Westport | 2011

DYNAMIQ GLOBAL 500 HYBRID

50m | Dynamiq | 2025

DYNAMIQ GTT 170

50m | Custom | 2025

49.95m | Overmarine group | 2022

SEAGULL MRD

49.9m | Benetti | 2020

ATLANTIQUE 47

47m | Columbus yachts | 2026

La Commission alloue 500 millions d’euros pour augmenter la production de munitions et renforcer l’industrie de la défense de l’UE

La Commission a alloué aujourd'hui les 500 millions d'euros prévus dans le cadre de l'Acte de soutien à la production de munitions (ASAP).

La Commission a alloué aujourd'hui les 500 millions d'euros prévus dans le cadre de l'Acte de soutien à la production de munitions (ASAP). Cette somme permettra à l'industrie européenne de la défense de porter sa capacité de production de munitions à 2 millions d'obus par an d'ici à la fin de 2025.

La Commission a achevé l'évaluation prévue par le règlement ASAP en un temps record et a sélectionné 31 projets destinés à aider l'industrie européenne à accroître sa production de munitions et son niveau de préparation. Les projets sélectionnés couvrent cinq domaines : les explosifs, les poudres, les obus, les missiles et la certification des essais et du reconditionnement. L'ASAP se concentre sur les poudres et les explosifs, dont les problèmes d’approvisionnement provoquent des goulets d'étranglement pour la production d'obus de munitions, et leur consacrera environ les trois quarts du programme. Le programme soutiendra des projets augmentant la capacité de production annuelle de plus de 10 000 tonnes de poudre et de plus de 4 300 tonnes d'explosifs.

La Commission a également lancé le programme de travail pour l'instrument visant à renforcer l'industrie européenne de la défense au moyen d’acquisitions conjointes (EDIRPA) et le quatrième programme de travail annuel du Fonds européen de défense (FED).

Ensemble, ces programmes disposent d'un budget de près de 2 milliards d'euros. Les mesures prises aujourd'hui pour renforcer la base industrielle et technologique de la défense européenne font suite à l'adoption de la toute première stratégie européenne pour l’industrie de la défense (EDIS) et de la proposition connexe de programme européen pour l’industrie de la défense (EDIP).

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Trump Fraud Judgment: Ex-President Says Posting Full $454 Million Bond Is ‘Not Possible’ As Deadline Looms

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Former President Donald Trump is unable to secure a bond for the more than $454 million he owes as part of the civil fraud case against him and his company, the ex-president’s attorneys said Monday, as Trump asks a state appeals court to pause the judgment against him days before it comes due.

Former President Donald Trump appears at a campaign rally on March 9 in Rome, Georgia.

Trump has been ordered to pay $454.2 million in the civil fraud case, in which he and his business associates were found liable for fraudulently misstating the value of their assets on financial statements for personal gain.

That amount continues to grow by more than $111,000 each day until it’s paid off, based on a 9% annual interest rate, and Trump is still required to either pay cash into a court-controlled account or post an appeals bond while he appeals the case.

Trump’s attorneys asked the court to pause the judgment while the case is appealed in a filing Monday, saying that securing a bond for the full amount is a “practical impossibility.”

The attorneys argued Trump has undertaken “diligent efforts” to secure a bond and negotiated with “one of the largest insurance companies in the world,” but that’s proven “‘obtaining an appeal bond in the full amount’ of the Judgment is not possible under the circumstances presented.’”

Most bonding companies won’t consider a bond as large as what Trump needs, and those that do won’t accept real estate as collateral, Trump’s lawyers said.

Given interest rates and premiums, Trump would have to turn over approximately $557 million in cash or cash equivalents (like marketable securities) to secure a bond, according to his lawyers.

30. That’s the number of surety companies that Trump has unsuccessfully approached about his appeals bond, according to an affirmation filed in court by Trump Organization lawyer Alan Garten. None were willing to accept real estate as collateral.

What To Watch For

It’s unclear when the appeals court could rule on Trump’s request to pause the monetary judgment. The former president has previously asked the court to let him only post a $100 million bond, if it doesn’t halt the judgment entirely. Though there’s no deadline specified in New York law on Trump posting a bond, the New York Attorney General’s office, which brought the case, is expected to start trying to enforce the judgment if he hasn’t paid by March 25. Attorney General Letitia James has previously said she plans to seize Trump’s buildings if he doesn’t pay.

Forbes Valuation

Forbes estimates Trump’s net worth at $2.6 billion—but only $413 million is made up of cash and liquid assets, meaning the judgment against Trump is more money than he has in the bank.

How Will Trump Pay?

It remains to be seen how Trump will pay the judgment against him or secure a bond if the appeals court rules against him, whether that’s borrowing against his properties, getting a wealthy friend to help him put up the cash or obtaining a loan. The former president’s lawyers have previously said in court filings that Trump will have to sell his properties if the court doesn’t pause the judgment. In Monday’s filing, attorneys noted that raising the money for a bond “through a ‘fire sale’ of real estate holdings would inevitably result in massive, irrecoverable losses.”

Trump’s scramble to secure a bond in the fraud case comes after the ex-president separately posted a $91.6 million bond earlier in March as part of writer E. Jean Carroll’s defamation case against him. That bond was underwritten by The Chubb Group, which defended its business with Trump to customers, claiming it has “nothing to do with the underlying merits or with favoring any of the parties” and that the company supports the rule of law. It is still unclear how Trump secured that bond, though Chubb CEO Evan Greenberg said it was “fully collateralized.”

Key Background

James sued Trump and his business associates—including his sons—for fraud in 2022, accusing them of fraudulently misstating the value of assets on financial statements more than 200 times between 2011 and 2021. The attorney general alleged the valuations were misstated in order to obtain more favorable business deals, and obtain a higher net worth for Trump. While the ex-president and his co-defendants have argued their valuations were correct and were subjective figures based on Trump’s real estate expertise, Judge Arthur Engoron ruled against Trump even before the trial in the case began, finding the numbers were fraudulently inflated. A monthslong trial then took place on other allegations, such as whether the fraud was committed knowingly, and Engoron ruled against Trump and his co-defendants in February. The judge found there was “overwhelming evidence” suggesting Trump and his sons signed off on financial statements knowing the figures were false, rejecting the defendants’ claims that the company’s accountants were responsible for any issues with the numbers. In addition to the monetary judgment against Trump, Engoron also ordered Trump’s sons Eric and Donald Trump Jr. to pay approximately $4 million each and for former CFO Allen Weisselberg to pay $1 million. He also barred Trump and his sons from leading New York companies for three and two years, respectively, and barred Trump from obtaining loans through companies registered in New York, though an appeals court later put that part of the judgment on hold.

The Commission allocates €500 million to ramp up ammunition production, out of a total of €2 billion to strengthen EU’s defence industry

Today, the Commission allocated the €500 million foreseen under the Act in Support of Ammunition Production (ASAP).

Today, the Commission allocated the €500 million foreseen under the Act in Support of Ammunition Production (ASAP). This will allow the European defence industry to ramp up its ammunition production capacity to 2 million shells per year by the end of 2025.

The Commission also launched the Work Programme for the instrument for the reinforcement of the European defence industry through common procurement (EDIRPA) and the fourth annual Work Programme of the European Defence Fund (EDF).

Together, these programmes have a budget of almost €2 billion. Today’s steps towards the reinforcement of the European defence technological and industrial base are taken in the wake of the adoption of the first ever European Defence Industrial Strategy (EDIS) and the associated proposal for a European Defence Industry Programme (EDIP).

€500 million to ramp-up ammunition production capacity to 2 million per year.

With the support of ASAP, Europe is expected to reach an annual ammunition shell production capacity 2 million by the end of 2025 .

The Commission completed the evaluation under the ASAP Regulation in record time and selected 31 projects to assist European industry in increasing its ammunition production and readiness.

The selected projects cover five areas: explosives, powder, shells, missiles, and testing and reconditioning certification. The projects will be funded with €513 million from the budgets of the EU and Norway. This funding will leverage additional investment from industry through co-financing, resulting in a total investment of around €1.4 billion in the supply chain.

ASAP focuses on powder and explosives, which are bottlenecks for ammunition shell production, and will allocate some three quarters of the programme to them. The programme will support projects increasing the annual production capacity by more than 10 000 tons of powder, and by more than 4 300 tons of explosives. For this purpose, The Union will invest €248 million in powder manufacturing capacity and €124 million in explosives manufacturing capacity.

Thanks to measures already taken, European annual production capacity for 155 mm shells had already reached 1 million per year in January 2024 .

ASAP funding recipient companies and their supply chains are spread across the European Union. Support is provided to reinforcing existing production capacities, as well as to build up new ones. The completed projects will enhance the responsiveness and capability of the Union’s defence industry, ensuring a faster supply of ammunition and missiles in Europe.

Grant agreements with the selected applicants are expected to be signed in May 2024.

€310 million to incentivise Member States to procure defence capabilities together

With the adoption of the instrument for the reinforcement of the European defence industry through common procurement (EDIRPA) Work Programme, and the launch of the respective calls for proposals, the Commission incentivises for the first time Member States to jointly acquire defence products serving the most urgent and critical needs, especially those amplified by Russia’s aggression against Ukraine. Aggregating demand will provide predictability and therefore incentivise our industry to ramp up manufacturing capacity, and will improve the interoperability of the national armed forces.

With a total budget of €310 million, the EDIRPA Work Programme will support common procurement in three areas: 1) Ammunition (e.g. small arms, artillery ammunition, mortars, rockets), 2) Air and missile defence, and 3) Platforms and replacement of legacy systems (e.g. tanks, armoured vehicles, support systems, soldier systems, drones). These funding priorities have been set together with the Member States to address urgent defence needs and replenish defence stockpiles.  The submission deadline for proposals is 25 July 2024.

€1.1 billion to boost EU defence R&D projects

To ensure Europe remains at the cutting edge of defence technology and innovation, the Commission has adopted the fourth annual Work Programme of the European Defence Fund (EDF) and launched the corresponding calls for proposals, allocating an additional €1.1 billion, including €225 million to support innovation and defence start-ups through dedicated measures under the EU Defence Innovation Scheme (EUDIS). The funding priorities are commonly agreed upon with the Member States and take into consideration defence technologies and capability needs as well as emerging threats amplified by the changed security environment. 

The 2024 EDF work programme covering 32 call topics will fund projects in crucial defence domains, including countering hypersonic missiles, developing a range of unmanned vehicles in the air and on the ground, and ensuring secure space communication. It prepares the ground for next generation defence systems, such as helicopters and mid-size cargo aircraft.

Additionally, the Work Programme offers support measures to promote defence innovation and inclusiveness through the EU Defence Innovation Scheme (EUDIS), with funding for a EUDIS Business Accelerator and Matchmaking opportunities with investors.

The submission deadline for proposals is 5 November 2024.

The  Act in Support of Ammunition Production (ASAP) is a direct response to the Council’s  to urgently deliver ammunition, and if requested missiles, to Ukraine, and to help Member States refill their stocks by introducing targeted measures. The Act aims at ensuring that the EU can ramp up its ammunition production capacity. Financial support will be provided in the form of grants to various types of actions contributing to the efforts of the European defence industry to increase its production capacities and tackle bottlenecks. ASAP implements track 3 (industrial part) of the so-called three-track approach of the ammunition plan agreed by the Council in March 2023.

The  instrument for the reinforcement of the European defence industry through common procurement (EDIRPA) responds to Member States’ request to address the most urgent and critical defence product needs resulting from Russia’s aggression against Ukraine. The instrument incentivises Member States, in a spirit of solidarity, to commonly procure defence capabilities for their armed forces and facilitates access for all Member States to defence products being urgently needed.

The European Defence Fund is the Commission's instrument to support defence R&D and cooperation. Without substituting Member States' efforts, it promotes cooperation between companies of all sizes and research actors throughout the EU and Norway (as an associated country). The EDF supports competitive and collaborative defence projects throughout the entire cycle of research and development, focusing on projects leading to state-of-the-art and interoperable defence technologies and equipment. It also fosters innovation and incentivises the cross-border participation of SMEs. The Work Programme and the funding priorities are defined based on the defence capability priorities agreed by Member States within the framework of the Common Security and Defence Policy (CSDP), and particularly in the context of the Capability Development Plan (CDP). With the adoption of this annual work programme 2024, the Commission has committed to invest more than €4 billion in collaborative defence R&D since the entry into force of the EDF Regulation in May 2021.

These measures, complemented by the recently announced Commission proposal for a European Defence Industry Programme (EDIP), ensure a structural, longer-term approach to achieve defence industrial readiness. They provide continuity of the support to the European defence technological and industrial base, to enable its swift adaptation to the new security environment.

“Now €2 billion are invested in defence-related research and development, ammunition production, and common procurement. These are important steps to invest more, better, together and European. They show the potential of the recently proposed European Defence Industry Programme and contribute to our efforts to support Ukraine. And the EU delivers on its promise to strengthen the European defence technological and industrial base.”

Margrethe Vestager , Executive Vice-President for a Europe Fit for the Digital Age

“The Act in Support of Ammunition Production (ASAP) is in motion! We are investing €500 million into 31 industrial defence projects to ramp up ammunition production. This is the first time we use the EU budget to support the defence industrial production capacities. Unprecedented. The signal we send is clear: Europe is ready to produce more, faster and together as Europeans.“  

Thierry Breton , Commissioner for Internal Market

For More Information

Questions and answers on ASAP and EDIRPA

ASAP webpage

ASAP factsheet with projects selected for funding

EDIRPA webpage

EDIRPA Work Programme

EDIRPA Factsheet

EDF Work Programme 2024 factsheet

EDF Work Programme 2024

EUDIS factsheet

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• Putin Orders Rolling Blackouts...

Putin Orders Rolling Blackouts For 22 Million in Moscow As Temps Drop To A Chilling -7F 

• By Gabrielle Marabut
• Jan 15, 2024

Russian President Vladimir Putin has reportedly authorized rolling energy blackouts in Moscow as the city grapples with bone-chilling temperatures plummeting to -7°F(-22°C).   

Powercuts To Hit 22 Million  

These power cuts are expected to affect the entire Moscow metropolitan area, home to approximately 22 million people.  

Electricity Less Than 12 Hours a Day  

The directive limits electricity supply to “not exceed 12 hours per day” and is scheduled to be in effect from January 14 through March 31, 2024, as announced by Ukraine commentator Igor Sushko.  

Read More: These “Trump” Stocks Could Take Off if He’s Re-elected  

Heating Main Rupture Sparks Energy Crisis  

The decision to implement these blackouts follows a heating main rupture that occurred at the Klimovsk Specialized Ammunition Plant in Podolsk, located about 30 miles south of central Moscow, on January 4.  

Thousands Without Heat  

The aftermath of this incident has left tens of thousands of Russian residents in the Moscow region without heat in their homes, leaving them vulnerable to the severe subzero temperatures.  

Affected Areas Extend Beyond Moscow  

A map shared by a Russian Telegram channel and circulated on various social media platforms reveals the extensive reach of the power outages. Cities such as Khimki, Balashikha, Lobnya, Lyubertsy, Podolsk, Chekhov, Naro-Fominsk, and Podolsk are among the affected areas.  

Also Read: Glynis Johns, Beloved ‘Mary Poppins’ Star, Dies at 100  

Energy Crisis Hits Moscow Residents  

In addition to these, residents in Moscow, specifically Balashikha, Elektrostal, Solnechnogorsk, Dmitrov, Domodedovo, Troitsk, Taldom, Orekhovo-Zuyevo, Krasnogorsk, Pushkino, Ramenskoye, Voskresensk, Losino-Petrovsky, and Selyatino, are also grappling with power outages.  

Energy Crisis Spreads Across Russia  

The energy crisis has not been limited to Moscow alone. Reports indicate that power outages have been experienced in various cities across Russia, including St. Petersburg, Rostov, Volgograd, Voronezh, and Primorsky, exacerbating the challenges posed by the harsh winter conditions.  

Massive Fire Engulfs Warehouse Near St. Petersburg  

As the energy crisis unfolded, a massive fire erupted in a warehouse used by Russia’s largest online retailer, located south of St. Petersburg.  

Read More: North Korea Fires Artillery Shells Near Border with South Korea; Leader’s Sister Mocks Seoul  

Warehouse Building Collapses  

The blaze consumed an extensive area of 70,000 square meters, with 50,000 square meters of the Wildberries warehouse collapsing, according to Russia’s Emergency Situations Ministry. Fortunately, no casualties were reported in the incident.  

Employees Flee Scene of Warehouse Fire  

Videos circulated on social media captured employees fleeing the scene, fearing for their safety. Aerial footage showed the warehouse engulfed in flames, sending plumes of smoke into the sky.  

Read Next: GOP Presidential Candidate Arrested on Federal Tax Charges  

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