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EU Plans to Invest Another 20 Billion Euros for More Weapons in Ukraine

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The European Union is poised to significantly bolster its funding for weapons supplied by member states to Ukraine, as emphasized by EU diplomatic chief, Josep Borrell, in advance of the foreign ministers’ meeting today. According to diplomatic sources cited by the Brussels-based website Politico, the proposed amount could reach up to 20 billion euros (475 billion crowns) earmarked for the next four years. Member states are expected to reach a consensus on its release by the autumn season.

Borrell has asserted that the current attacks by Russia on Ukraine demonstrate Moscow’s lack of intent to end the ongoing conflict. Consequently, the EU must continue to extend its support to Kiev. He emphasized the need for a decisive response, beyond mere rhetoric, which involves providing new weapons. In preparation for the ministerial debate, Borrell is presenting a concrete proposal.

In response to the Russian aggression last year, the European bloc has already allocated over five billion euros from the European Peace Facility (EPF) fund. The EPF serves to reimburse member states for a portion of the expenses incurred for the arms and ammunition they supply to Ukraine, while also financing joint purchases of ammunition.

Borrell has previously advocated for a significant increase in the funding package, suggesting the possibility of transforming it into a dedicated fund exclusively for supplying arms to Ukraine. While the EPF’s initial mission was to provide military aid to the EU’s non-European partners, most of its resources are currently directed towards supporting Ukraine.

The specific amount to be allocated is yet to be disclosed before today’s ministerial meeting. However, diplomats speculate that the proposal could potentially provide up to four times the amount of money made available thus far, extending until 2027. The approval of this proposal is anticipated to involve complex discussions, particularly due to Hungary’s reluctance. Hungary has previously been hesitant to approve further arms payments from the EPF, and Prime Minister Viktor Orbán has been cautious about extending additional support to Ukraine.

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