Europe has money to fill US's gap to help Ukraine, yet nuances exist - CNN
Europe has money to fill gap in aid to Ukraine (Photo: flick com libereurope)
Europe is trying to close the gap in funding assistance to Ukraine that arose due to political discussions in the United States. Brussels has the money, but there are other obstacles, CNN reports.
The agency notes that Ukrainian President Volodymyr Zelenskyy has repeatedly emphasized to allies that the biggest problem on the front line is a shortage of weapons. The delay in the United States' funding assistance to Ukraine exacerbates the problem.
CNN writes that Europe is trying to meet Ukraine's needs. Overall, the EU has provided more financial assistance to Ukraine. However, out of $85 billion from the EU, only $5.6 billion went to military aid. The rest is humanitarian aid and financial support.
Some European officials believe that Europe can outweigh Russia economically. According to the latest World Bank data, Russia's GDP is $2.24 trillion compared to the EU's $16.75 trillion.
The agency emphasizes that Europe has the money to fill the gap in assistance to Ukraine left by Washington, but there are obstacles. In particular, the EU is a bloc of 27 countries. Some states are NATO members, some are neutral, and others are close to Russia. Thus, there are political obstacles to making decisions, such as buying weapons.
Europe takes defense seriously. Recently, the EU unveiled a plan to strengthen the defense industry, which could compete with the American one in the future. But this is a long-term perspective, and Ukraine needs weapons now.
CNN adds that there are other ways to assist. The Czechia's initiative to purchase artillery ammunition for the Ukrainian army is cited as an example. The idea quickly gained traction as it is not an official EU plan.
The authors believe that Europe can fill the funding gap for assistance to Ukraine left by Washington. However, it remains unknown whether the EU has the political will.
"Yes, Europe can fill the gap left by the US, and in some ways is trying to do so. But it all depends on whether Ukraine's biggest European allies can continue to win the dispute," the material says.
Background
On February 13, the US Senate approved a bill providing $95 billion in assistance to Ukraine, Israel, and Taiwan. Over $60 billion is allocated for Ukraine.
The bill still needs to be approved by the US House of Representatives and signed by President Joe Biden for it to take effect.
House Speaker Mike Johnson opposed the initiative and did not bring the bill to the lower house of Congress. President Joe Biden called on the House of Representatives to pass the bill urgently.
