The European Union agreed to replenish the fund by 5 billion euros, from which they help Ukraine with the country’s defense.
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The Financial Times reported that EU countries could agree on an increase of 5 billion euros in funding for the European Peace Fund on March 13. This fund is used to finance military supplies to Ukraine.
Approval of a new tranche to the fund must take place at a meeting of the ambassadors of member countries.
It is not yet clear exactly what part of the 5 billion euros will be used for military assistance to Kyiv.
It is expected that priority will be given to the purchase of European-made weapons, although weapons from third countries are not excluded if they are the only option.
Since 2022, the EU has been providing military assistance to Ukraine through the “European Peace Fund” – in particular, it compensates member countries for the weapons provided to Ukraine.
In particular, the fund allows the EU to finance actions aimed at strengthening the capacity of non-EU countries. Funding is provided through tranches that can be blocked by individual member states.
In recent months, this has been done by Hungary, which, under various pretexts, refused to approve the replenishment of the fund by 500 million euros.
At the same time, EU member states are negotiating the creation of a four-year special fund under the European Peace Fund totaling 20 billion euros, which would be used exclusively to help Ukraine.
Let us recall that in March Ukraine became part of the European Defense Industrial Strategy, presented on March 5 by the European Commission.
Source: Racurs
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