Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

US State Department approves potential missiles sales to UK, Finland, Lithuania -Pentagon

Published 10/23/2023, 03:41 PM
Updated 10/23/2023, 04:11 PM
© Reuters. FILE PHOTO: People enter the State Department Building in Washington, U.S., January 26, 2017. REUTERS/Joshua Roberts/File Photo

(Reuters) -The U.S. State Department approved three potential arms sales to the United Kingdom, Finland and Lithuania, the Pentagon said on Monday as Ukraine's European allies continue to stock up on munitions after flooding Kyiv with donations.

European demand for U.S. weaponry is soaring, but instead of big-ticket items like jets and tanks, shopping lists are focused on cheaper, less-sophisticated items such as shoulder-fired missiles, artillery, and drones that have proven critical to Ukraine's war efforts.

The State Department backed a potential sale of 3,000 joint air-to-ground missiles to the United Kingdom worth $957.4 million, according to a statement. The missile is primarily used for short-distance air strikes.

Lockheed Martin Corp (NYSE:LMT) would be the principal contractor for the sale.

The department also approved a potential sale to Finland of 150 advanced anti-radiation guided missiles worth $500 million, according to a separate Pentagon statement on Monday. The missiles are used to destroy an enemy's radar arrays in the hopes of rendering the adversary blind to attack.

Northrop Grumman (NYSE:NOC) would be the principal contractor for the transaction with Finland.

The Pentagon also announced on Monday that the State Department has approved a potential sale of 36 advanced medium range air-to-air missiles to Lithuania with Raytheon (NYSE:RTN) as the principal contractor.

Latest comments

But MaGa republicans say that we only loose money on the wars in ukraine and isreal.We are selling, weapons, artillery, missiles, blackhawks, f16 and f35, oil, gas and ammunitions like never before to the world, thanks to putin and Iran. At the same time we are getting rid of older weapons on stock to buy new and more modern ones….
Putin & Iran has been good for the global m.i.c.
There is a shortage of 5.56 ammo in case you need some. Buy by the bulk.
"The department also approved a potential sale to Finland of 150 advanced anti-radiation guided missiles worth $500 million" Dang!  My application for a similar purchase is still pending, and I'm in the U.S.A.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.