The European Union intends to change the model of financing military assistance to Ukraine.
Brussels may move away from using the European Peace Fund as the main instrument for financing military support for Ukraine, in particular due to constant vetoes from the Hungarian government. This was reported by RMF24.
It is noted that this coming Wednesday, EU ambassadors are supposed to reach political agreement on the terms of providing assistance to Ukraine worth 50 billion euros using proceeds from frozen Russian assets. We are talking about a loan from the G7, within which the EU plans to allocate up to 35 billion euros.
It is expected that part of this money will go to programs financed from the EU budget. However, only 5% is provided for the European Peace Fund, which compensates allies for the cost of military aid transferred to Ukraine. A majority will be enough for a decision, so Hungary will not be able to veto it.
It is reported that before this, about 90% of the proceeds from the frozen assets of the Central Bank of the Russian Federation were directed to support Ukraine through the Peace Fund. The EU agreed to such a decision in June, overcoming Hungarian opposition.
Let us recall that in September Bloomberg reported that arms supplies to Ukraine in 2025 may be under threat. Since Russia’s economy is at war, but Ukraine’s allies are not, some partner countries are having difficulty obtaining funding, while others are refusing to increase funding to help the Ukrainian Armed Forces.
Source: RMF24
Source: Racurs
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