COPENHAGEN — Denmark will boost its defense spending and hold a referendum on joining the common EU defense policy amid Russia's invasion of Ukraine.

The referendum will be held on June 1 with the government saying on Sunday that the country's leading political parties "agree that European security is threatened".

"The parties to the agreement, therefore, agree on a number of measures to strengthen the Danish defense preparedness and the possibilities for maneuvering in the new security policy situation," a joint agreement of the governing Social Democrats, the Liberals, the Socialist People's Party, the Radical Left and the Conservatives read.

The country will increase defense spending to 2% of GDP — a NATO target — by 2033.

They agreed to set aside 7 billion crowns (roughly €940 million) in the next two years "in the light of the Russian crisis" for increased defense readiness, operations and humanitarian efforts.

"We must be prepared for the new situation together with our allies in NATO and the EU," the main parliamentary parties said.

They will also work towards phasing out Russian natural gas imports and try to alleviate European dependence on it. Russia is the main exporter of natural gas, which is often used for household heating, to the European Union.

"Denmark has spent billions in recent decades to phase out natural gas, but we need to move even faster," the political parties said in a statement. — Euronews