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EU found ways to fund weapons for Ukrainian Armed Forces amounting to €5 billion - FT

EU found ways to fund weapons for Ukrainian Armed Forces amounting to €5 billion - FT Photo: EU countries have found ways to finance the purchase of weapons for the Armed Forces (Getty Images)

European Union countries intend to agree on a new replenishment of the special fund for €5 billion today, March 13, to finance military supplies to Ukraine, informs Financial Times.

The EU agreement, which requires official approval at the meeting of EU member states, opens up new opportunities for reimbursing arms supplies to Kyiv.

"(The) Ukrainians are struggling without ammunition," said a senior official from the US Department of Defense, referring to Russia's recent gains and warnings to Ukrainian forces that they are rationing shells.

The European Union's fund, known as the European Peace Fund, will prioritize weapons produced within the EU but will not exclude weapons from non-EU countries if there is no alternative.

Sources note that the fund has been an important part of European military supplies to Ukraine since February 2022 but has been exhausted, and negotiations on its replenishment have been ongoing for the past three months. One official stated that the agreement is about flexibility as needed, not as intended.

EU countries supply weapons to Ukraine

It is worth noting that in early May 2023, the EU Council adopted a decision to assist Ukraine in the amount of one billion euros for joint purchases of ammunition and missiles.

It was planned that by March 2024, European countries would provide Ukraine with the promised one million shells. However, EU countries were unable to meet the plan on time and only managed to collect 600,000 ammunition for Ukraine.

At the same time, EU countries stated that they are jointly prepared to produce up to 2 million artillery ammunition annually for Ukraine starting in 2025.