EU to Increase Weapons Financing for Ukraine by 2 Billion Euros

Starting next week, the European Union will increase the fund allocated for financing arms supplies to Ukraine by at least 2 billion euros, Bloomberg reported on Thursday.

Currently, the fund has a limit of 6 billion euros for financing military assistance from 2021 to 2027. Arms supplies are financed not only for Ukraine but also for a number of other countries, with at least half of the total amount reserved for Kyiv.

However, as Bloomberg notes, EU countries believe this is inadequate. The document regarding the increase in financing could be signed on December 12. The size of the fund may be further increased in the future.

On February 24, Russian President Vladimir Putin announced a special military operation in response to a request for assistance from the leaders of the Donbas republics. Subsequently, the West imposed extensive sanctions against Russia and increased the supply of weapons and military equipment to Kyiv.