Business news from Ukraine

The EU Council approved a proposal to allocate a new tranche of 500 million euros for military assistance to Ukraine

The Council of the European Union has approved an earlier political decision to provide Ukraine with a new tranche of EUR500 million from the European Peace Fund to strengthen support for the Armed Forces of Ukraine to protect the country’s territory from Russian aggression.
The corresponding decision was made on Friday in Brussels, according to the EU Council.
“Today, the Council approved two European Peace Fund (EPF) assistance measures aimed at strengthening EU support for the capabilities and resilience of the Ukrainian Armed Forces to protect the country’s territorial integrity and sovereignty, as well as to protect the civilian population from ongoing Russian military aggression. Thanks to the 5th tranche of EUR500 million mobilized today, the EU contribution under the EPF for Ukraine will now amount to EUR2.5 billion.
Commenting on the decision, EU High Representative for Foreign Affairs and Security Policy Josep Borrell said: “The EU remains focused and unwaveringly supporting Ukraine in its struggle for freedom and independence. Ukraine needs more weapons, we will provide them. In this context, Member States The EU agreed to mobilize the 5th tranche of military assistance in the amount of EUR500 million, which in total amounts to EUR2.5 billion of military equipment for the Armed Forces of Ukraine.”
The press release details that, in line with the current priorities stated by the government of Ukraine and the support provided so far, the assistance measures include EUR490 million in military equipment designed to deliver lethal force for defensive purposes and EUR10 million intended to cover equipment deliveries. and for consumables such as personal protective equipment, first aid kits and fuel.

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