Norway will more than double its financial pledge to Ukraine this year while also hiking its own defence spending, the prime minister said on Thursday, declaring the Nordic country faced its most serious security situation for 80 years.

Norway has announced a massive increase in financial aid to Ukraine, more than doubling its planned support for 2024 in response to what Prime Minister Jonas Gahr Støre called the most serious security threat Norway has faced in 80 years.

Under the previous plan, Norway had allocated NOK35 billion ($3.21 billion) in aid to Ukraine through 2025. The new decision adds an extra NOK50 billion ($4.6 billion). Prime Minister Jonas Gahr Støre said the additional funds are a significant contribution to peace and stability in Europe.

Norway plans to increase its support for Ukraine's defense by increasing aid spending, according to Norwegian Prime Minister Jonas Gahr Støre. During a speech to the country's parliament, the Prime Minister expressed disappointment with the scenes in the Oval Office and any potential split between European allies and the United States.