EU allocates additional 500 bln euros for weapons for Ukraine
New Delhi: The EU has made the final decision on the provision of the fifth transfer of 500 million euros for arms shipments to Ukraine, EU High Representative Josep Borrell announced Wednesday.
“Participated at Ministerial Ukraine Defence Contact Group meeting. EU Member States agreed to mobilize the 5th tranche of military assistance of €500M to further support Ukraine‘s Armed Forces. EU remains focused & steadfast in its support for Ukraine, together with partners,” Borrell tweeted.
This brings the EU’s total funding for military aid for Ukraine to 2.5 billion euros. This money is being used as compensation for EU member states that ship their weapons to Ukraine, regardless of whether it is old decommissioned vehicles or new modern orders.
A European diplomatic source in Brussels disclosed earlier that these 2.5 billion euros have been allocated from the EU budget for the entire seven-year 2021-2027 period, and the EU External Action is currently working on finding new funds.
However, On June 23, 2022, the European Parliament adopted a resolution calling for the immediate granting of candidate status for EU membership to Ukraine. On the same day, the European Council granted Ukraine the status of a candidate for accession to the EU.
In absolute terms, the largest supporter till May 10 – by a very large margin – was the United States, with a total of €43 billion made up of €24 billion in military aid, €9 billion in humanitarian aid, and €10 billion in financial aid.
(Vinayak)
