Sweden has announced its largest rearmament plan since the Cold War.

Sweden's rearmament will cost 300 billion crowns ($30 billion). This was announced on April 14 by the country's Prime Minister Ulf Kristersson after a meeting with party leaders in Stockholm.

"This is a very rough estimate — it all depends on what NATO's goals will be in the end. This will be the largest rearmament of Swedish military defenses since the Cold War. And this, unfortunately, is absolutely necessary," he said, emphasizing the importance of the country's security in light of current geopolitical threats.

Kristersson pointed out that Sweden is now part of an alliance of 32 allies, among which three countries possess nuclear weapons that should never be used. However, given the proximity of Russian nuclear forces, democracy must be able to defend itself within the framework of collective security.

In addition, the Prime Minister also touched upon the impact of US foreign economic policy on Sweden's security. He pointed out that the uncertainty caused by Washington's actions creates additional risks for the country's economy.

"I think this is the most obvious thing that can be said in connection with the constant new statements, especially on the issue of customs (duties — Ed.). Now we understand that a window has been opened for negotiations between the EU and the United States," the prime minister said.

Regarding the trade war between the United States and China, Kristersson expressed concern that it could negatively affect production in Beijing and, consequently, in European markets. Nevertheless, he saw in this situation new opportunities for free trade with other regions of the world, such as Latin America and India.

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On April 3, Politico reported that representatives of the United Kingdom, Sweden, Denmark, Finland, Poland and the Netherlands held an informal meeting in Brussels to discuss an alternative way to finance the rearmament of European countries. The online tabloid Exexpress said that it is planned to create a supranational fund that will purchase weapons for the participating states.

European Commission President Ursula von der Leyen said on March 18 that Europe should have strong defenses by 2030, for which it needs to rearm and develop capabilities for reliable deterrence. In particular, according to the head of the EC, European countries should increase investments in the production of air and missile defense systems, as well as all modern types of drones and anti-drone systems.