What Happened
European Union Overhauls Defense Procurement Rules
The European Union has formally approved the Omnibus V defense package, which will introduce new thresholds, procedures, and transfer rules for defense procurement. The reform aims to streamline and simplify the procurement process, facilitating cross-border cooperation and accelerating defense-readiness projects. The package will enter into force on November 23, 2026, and member states must adopt and publish transposing measures within 12 months. The changes are expected to have a significant impact on the EU’s defense industry, with defense companies and suppliers needing to adapt to the new rules. This development was reported by Greenberg Traurig, LLP.