The EU has increased by 2.2 billion euros the volume of the fund for the purchase of weapons to Ukraine

Brussels, 14 March 2023, 14:08 — REGNUM The Council of the European Union approved a decision to raise the financial ceiling of the European Peace Fund by 2.2 billion euros, to 7.979 billion at current prices until 2027. This was stated on March 14 in a statement by the EU Council.

Consequently, the initial volume of the Euro Peace Fund, which was calculated for the period from 2021 to 2027 at 5.7 billion euros at current prices, can be almost doubled.

At the end of 2022, the European Union compensated more than 3 billion euros to the countries of the community for the supply of weapons to Ukraine. The amount of compensation was calculated at about 40% of the market value of the transferred weapons.

An increase in the fund is necessary in order to motivate European countries for new deliveries of weapons to the Armed Forces of Ukraine, primarily artillery ammunition.

As reported IA REGNUM, The European Commission plans to increase the production of ammunition in Europe. The three-stage plan provides for a sharp increase in production, which will ensure not only the supply of Ukraine, but also the replenishment of stocks in the EU countries. Aid should follow an already established pattern: European countries supply Kyiv and in return receive money from the European Peace Fund.