European Union is discussing creation of new fund for military support for Ukraine
The European Union is discussing plans to create a new fund for military support for Ukraine. Some EU member states want to use this fund as a way to revamp the European Peace Fund (EPF).
Currently, the EPF compensates member states for the weapons they send to Ukraine. The size of the fund has been expanded several times, but decisions on the allocation and spending of funds require unanimous support from member states. This approach has allowed Hungarian Prime Minister Viktor Orban to postpone or veto aid to Ukraine, Censor.NET reports with reference to LB.UA.
The European External Action Service proposed to allocate an annual budget of about 5 billion euros to the fund, but this did not lead to a consensus among the member states of the bloc. Currently, there is information that European officials will soon present a new document with options to member states.
Representatives of several EU member states, including Germany, suggested at this week's meeting that the EPF in its current form is becoming less effective as more and more arms supplies will come from procured rather than existing stockpiles.
Other member states would prefer to see a new assistance fund built into the EPF, while others want to continue using the current mechanism.
Earlier, Berlin called on EU member states to be more transparent about the support they provide to Ukraine amid concerns that some countries are not doing enough.
EU defense ministers will discuss military support for Ukraine this month. Their proposals may be included in the agenda of the summit of the bloc's leaders on February 1.
