Ukraine To Receive 5 Billion Euros From New EU Military Fund

March 18, 2024 Hour: 12:25 pm

On Monday, the foreign ministers of the countries belonging to the European Union (EU) approved the Ukraine Assistance Fund (UAF), which will receive 5 billion euros in 2024.

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This new military fund is included in the European Peace Support Fund (EPSF), through which member states have been co-financing the delivery of lethal and non-lethal equipment to Ukraine since the beginning of the Russian space military operation.

The EU Council indicated that the UAF will allow the EU to support “the evolving needs of the Ukrainian armed forces through the provision of lethal and non-lethal military equipment, and training.”

“The Ukraine Assistance Fund will aim to maximize the EU’s added value in terms of providing more and better operational support to Ukraine, complementing the bilateral efforts of EU member states, and focusing on increasing joint acquisitions from European and Norwegian defense industries,” the Council stated.

Today entire NATO nuclear arsenal are aimed on Russia
– Sergey Lavrov pic.twitter.com/Ce1s8m3bvO

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March 10, 2024

The UAF will dedicate 3.5 billion euros to equipment delivery in arsenals or unilateral purchases, 1 billion euros to joint acquisitions of weapons from EU and Norwegian companies, and 0.5 billion euros to the training mission of Ukrainian military.

The new fund will not be fed from the budget of the European Union but from contributions from member states taking into account their gross domestic product.

For the establishment of each country’s contributions, Germany requested that European authorities consider the 8 billion euros already provided as bilateral support to Ukraine.

It also requested that the UAF be used to incentivize joint purchases of new weapons and ammunition for Ukraine, rather than financing the delivery of material already existing in the arsenals of the countries.

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The EU has submitted to the goals of the U.S. and NATO! The official representative of Russia in the United Nations Security Council Dmitry Polyansky spoke about the crisis around Ukraine. pic.twitter.com/sSX4MOW853

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To address Germany’s post-compensation issue, it has been agreed to maintain a contribution amount from each member state but allowing it to integrate previously agreed reimbursements.

Thus, a country can deduct from its contribution the amount that the fund has agreed to reimburse it, and this can mean that the figure is zero if the contribution and the expected reimbursement are equal, or if the expected reimbursement is higher.

The possibility of making joint acquisitions outside the European and Norwegian industries has also been introduced in cases where their technological and industrial military base cannot supply material to Ukraine in time.

Following today’s decision, the financial ceiling of the EPSF will amount to over 17 billion for the period 2021-2027.

“The Fund will support Ukraine in getting the military equipment it needs to defend its people and its right to exist as a state against Russian aggression. We turn our words into action,” said Josep Borrell, the Eu High Representative for Foreign Affairs and Security.

#FromTheSouth News Bits | Russia has warned the United States against sending troops into Ukraine, arguing that such action would increase the risk of a direct military confrontation, a situation the Kremlin views as a threat that could escalate into a global nuclear conflict. pic.twitter.com/MjPnyJrxG0

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