Denmark will guarantee a loan to the Danish subsidiary of Fire Point, the Ukrainian maker of Flamingo cruise missiles, the Danish Business Ministry announced on 21 October. The financing will run through EIFO, Denmark’s state export and investment fund.

Ukraine uses its Flamingo missiles to strike defense plants deep inside Russia as Moscow continues its full-scale invasion. Fire Point broke ground in December 2025 on a plant in Vojens, southern Denmark, to make solid fuel for the missiles. The project has since grown far more expensive. In August, CEO Iryna Terekh said its estimated cost had risen from €50 million to above €150 million, calling the figure “very rough.” The war, meanwhile, stands in the way of Fire Point borrowing on ordinary terms in Denmark, the ministry said. That is why the Danish state is guaranteeing the loan.

What Denmark is putting up

The guarantee covers 750 million Danish kroner, or about $112.6 million, Reuters reported. Terekh said in August that the plant’s launch had slipped to late 2027. The ministry called the deal another big step toward starting production. However, Ukrainian outlet Defender Media noted that the statement does not say directly that the loan will fund the plant.

EIFO chief Peder Lundquist said the fund is involved in nearly 40 projects linked to Ukraine. Business Minister Martin Lidegaard said hosting a Ukrainian defense company brings Denmark knowledge, production, and partnerships. Europe’s security and freedom, he added, start in Ukraine.

Better shielded from Russian strikes

Defense Minister Jeppe Bruus said Denmark was the first country to decide to let a Ukrainian defense company set up on its soil. Production outside Ukraine, he argued, is better protected from Russian attacks. He added that Fire Point’s presence opens cooperation that could give Denmark access to technologies developed in wartime.

Denmark first said in September 2025 that Fire Point would make long-range missile fuel on Danish soil. Since then, the company has signed deals with more than a dozen European firms for FREYJA, an anti-ballistic project. It could reduce Europe’s long-term reliance on scarce US-made Patriot interceptors. Fire Point aims for a first ballistic missile intercept with it by mid-2027.

As of October, Russia has up to 700 ballistic and several thousand cruise missiles in reserve, and its 2026 state order for Geran-type drones and decoys such as the Gerbera exceeded 100,000 units, Ukraine’s military intelligence (HUR) told NV in figures the outlet published on 20 October. The missile stocks are roughly the same as HUR reported to NV in July, the outlet found.

Ukraine enters the heating season facing what it says is a Russian plan to hit 60 infrastructure sites this winter. HUR’s figures suggest Russia has the weapons for it, even after its fall mass strikes. In June, HUR said Russia could fire up to 100 ballistic missiles a month while keeping its stocks steady. Its drone output, meanwhile, is shifting to jets that are harder to shoot down.

Russia produces 110 ballistic missiles a month

Russia can make more than 200 missiles a month, 110 of them ballistic, HUR said. About 115 of its ballistic missiles are Iskander-Ms, with production of up to 65 a month. A modernized Iskander with a projected range of 550 to 700 km is in development.

At the same time, Russia holds up to 400 S-300PM and S-400 air defense missiles adapted to strike ground targets, and makes about 40 a month. Meanwhile, Kinzhal production has been temporarily paused over poor accuracy, and the capacity has gone to conventional ballistic missiles.

Most new Kalibrs go into reserve

Russia plans to make more than 80 Kh-101 cruise missiles a month and is exceeding that, though defects in releasing them from aircraft have sent some batches back to the factories.

Russia has more than 450 Kalibrs and makes about 29 a month. Because Ukrainian air defense downs them effectively, Russia sends most new ones to its strategic reserve and to equip its fleets, HUR said. It also holds more than 600 Oniks anti-ship missiles, upgraded for ground strikes, and more than 120 Zircons.

Russia now assembles 4,000 jet drones a month

Russia holds a reserve of about 6,200 Gerans and makes about 10,000 drones a month. Its main production hub is the Alabuga special economic zone in Tatarstan.

Since summer, Russia has shifted toward turbojet drones. “The reason is the saturation of Ukraine’s Air Force with mobile fire groups that shoot down low-speed targets en masse,” HUR said. Russia now assembles about 4,000 jet drones a month, mostly Geran-4s and Geran-5s, which fly at 400 to 500 km/h. It also makes about 2,000 cheaper propeller-driven Geran-2s, which HUR said are used to wear down air defense and locate air defense positions.

Some parts of the missile are apparently 3-D printed, HUR said, while the electronic component stands out for the increased share of Chinese components.

Russia launched 21 ballistic missiles against Kyiv in three successive waves overnight on 21–22 October, striking residential buildings, energy facilities and transport infrastructure just hours after President Vladimir Putin held peace negotiations with US presidential envoy Steve Witkoff in St Petersburg.

Ukrainian President Volodymyr Zelenskyy confirmed on Thursday morning that at least two people had been killed and 34 injured, including five children, in Russian attacks affecting 12 Ukrainian regions. The capital sustained extensive damage, with strikes reported against railway and metro infrastructure, shopping centres, industrial premises and a monastery.

The bombardment followed a three-hour meeting between Witkoff and Putin on Wednesday, during which the Russian president indicated his willingness to resume trilateral negotiations involving Moscow, Washington and Kyiv. The Russian attacks continued despite the diplomatic initiative, prompting Zelenskyy to call for renewed international pressure on the Kremlin.

Kyiv Under Three Waves of Ballistic Missiles

In a statement published on Telegram, Zelenskyy said Russian forces had launched three waves of ballistic missiles against the Ukrainian capital, causing numerous direct hits and widespread destruction.

The Ukrainian president referred sarcastically to Russia’s supposed humanitarian intentions, an apparent reference to Witkoff’s description of Putin as a humanitarian during their meeting the previous day.

Emergency services were deployed across several districts of Kyiv, where residential and commercial buildings suffered damage. Part of the capital’s metro infrastructure on the Southern Bridge was affected, disrupting traffic, while a strike on an ambulance station in the Pecherskyi district damaged six emergency vehicles. No medical personnel were injured at that location.

According to Ukrainian military and emergency service reports, the overnight assault also involved 210 attack drones and several types of missiles, including Iskander-M, S-400, Zircon and Oniks weapons.

By Thursday morning, Ukrainian air defences had intercepted or suppressed 181 drones. Russian weapons struck 32 locations, while debris from intercepted drones fell at eight others.

The assault followed several consecutive days of Russian attacks against Kyiv, including earlier strikes on hospitals, residential buildings and the capital’s transport network.

Witkoff’s Meeting with Putin

The timing of the latest bombardment placed renewed scrutiny on Washington’s diplomatic engagement with Moscow.

On 21 October, Witkoff met Putin at the Konstantin Palace in St Petersburg, accompanied by Russian officials, including Kirill Dmitriev, the Kremlin’s representative for international economic cooperation. The discussions lasted approximately three hours.

The meeting followed talks in Oslo on 20 October, where Witkoff and Jared Kushner met Zelenskyy alongside Norwegian Prime Minister Jonas Gahr Støre and Finnish President Alexander Stubb.

Following the St Petersburg meeting, Witkoff described the discussions as constructive and indicated that negotiations would continue at the technical level between representatives of the United States, Russia and Ukraine.

Putin reportedly expressed agreement in principle to restarting trilateral negotiations, potentially during the first half of November. However, no agreement on a ceasefire or suspension of Russian attacks was announced.

The meeting also attracted controversy after Witkoff praised Putin as a humanitarian following the release of Stephen Hubbard, a 74-year-old American citizen who had been detained in Russia for more than four years.

The remarks prompted criticism from Republican lawmakers in Washington, who questioned the characterisation of the Russian president while Moscow continued its military campaign against Ukraine.

Zelenskyy Calls for Pressure Rather Than Diplomatic Concessions

Zelenskyy characterised the overnight missile attack as evidence that Russia’s participation in negotiations had not produced any substantive change in its conduct.

He argued that diplomatic efforts to end the war should continue but must be accompanied by measures capable of altering Moscow’s military calculations.

Those measures, according to the Ukrainian president, include stronger air defence capabilities, faster deliveries of interceptor missiles, the ability to destroy Russian ballistic missile launchers and continued economic sanctions.

The latest attacks also place Ukraine’s air defence requirements firmly within the ongoing negotiations with Washington. Kyiv has repeatedly sought additional Patriot missiles and more reliable advance warning of Russian ballistic launches, particularly as repeated strikes place increasing demands on its interception capabilities.

For the Trump administration, the immediate question is whether Russia’s stated willingness to negotiate can produce verifiable commitments to reduce hostilities.

The Kremlin has offered the prospect of further talks without announcing a halt to its offensive operations. Kyiv, meanwhile, continues to face missile and drone attacks against civilian infrastructure even as discussions concerning a possible settlement proceed.

The events of 21–22 October leave Washington’s diplomatic initiative moving forward against the background of an expanding Russian aerial campaign, with no indication that Moscow intends to suspend its attacks while negotiations continue.

The United States and Israel have developed detailed plans for renewed military strikes against Iran following the November 3 midterm elections, as American forces build up across the Middle East and the Pentagon quietly repositions troops amid fears of Iranian retaliation, according to reports Wednesday.

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