That increase will bring Denmark's defence spending to three percent of GDP, with the Scandinavian country hoping to reach the five percent mark called for by US President Donald Trump ahead of NATO's target timeline of 2032.

"As the geopolitical situation demands that we reinforce building our defences, I am happy that we are allocating once again more money to so," Danish Defence Minister Troels Lund Poulsen said in a statement.

Denmark is a staunch ally of Ukraine, which has recently agreed to purchase weapons from American reserve stockpiles to send to Kyiv as part of a US-NATO initiative.

"When we support Ukraine, it's not only about their security -- it's about that of the whole of Europe," Poulsen added.