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The European Union’s foreign ministry will reform the fund that provides military aid to Ukraine as the EU moves from sending arms from existing stockpiles to buying new weapons, Bloomberg reported on January 19. The proposal was presented to Member States.
A European External Action Service document obtained by Bloomberg outlines the conditions for the creation of a previously proposed Ukraine aid fund with an annual budget of about 5 billion euros (about $5.4 billion), but EU governments have not agreed to do so. We have not been able to reach an agreement.
Under the current EU tool used to induce military aid to Ukraine, the European Peace Facility (EPF), member states receive reimbursement for weapons they send to Ukraine and control the allocation and spending of funds. Decisions require unanimous support.
EU member states are debating reimbursement rates and the use of the facility to offset purchases, with Hungary blocking an eighth round of funding to compensate EU member states for supplies.
According to Bloomberg, diplomatic envoys from several countries, including Germany, said at a meeting on January 17 that the EPF in its current form will He suggested that the effects are waning.
Other member states want the Ukraine Support Fund to be integrated into the EPF, while some reportedly want to remain within the current mechanism.
Also read: Wartime field report details Ukraine’s resilience
According to Bloomberg, the European External Action Service’s proposal seeks to harmonize different positions by changing the fund’s governance, including fixing reimbursement rates and giving higher bonuses for joint initiatives between European and Ukrainian industry. It is said that the purpose is The document states that compensation for deliveries and unilateral purchases from stocks will be gradually withdrawn.
This document will complement the bilateral assistance provided by Member States to Kyiv. The draft suggests that the involvement of non-European weapons and services in EU activities aimed at training and equipping the Ukrainian military, for example as part of the F-16 coalition, should be considered on a case-by-case basis. ing.
An EU diplomat told Bloomberg that the proposal is primarily a nod to countries like France, which want the money to go to EU industry. Some member states have reportedly slammed this approach, arguing that weapons destined for Ukraine should be sourced from readily available sources.
The EPF was launched in 2021 to fund common foreign and security policy activities related to the military and defence. In particular, this tool allows financing to be provided to non-EU partners pursuing joint peace and security building.
According to Bloomberg, following Russia’s full-scale invasion of Ukraine nearly two years ago, seven packages totaling 3.5 billion euros were approved, in addition to 2 billion euros for ammunition supplies.
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