The European Union (EU) has approved an increase in the budget of the European Peace Fund by €2 billion. Fund resources are used to finance military supplies to Ukraine from the EU.
“Today, the EU ambassadors approved an additional €2 billion for the European Peace Fund. This decision sends a clear signal of the EU’s continued commitment to military support for Ukraine and other partners,” the Swedish Presidency of the EU Council tweeted.
Since February 24, the European Union has sent €49 billion of financial assistance to Ukraine, of which €3.6 billion in military assistance. The European Union has allocated €45 million from the European Peace Fund for the training of the Ukrainian military in Poland. According to the Financial Times, since the beginning of the special operation, the EU has sent Ukraine 325 tanks, 200 multiple launch rocket systems, and more than 1,000 drones.
The European Peace Fund was established in 2021 for military and defense funding in order to prevent military conflicts in other countries. Prior to the start of the special military operation in Ukraine, funds from the fund had never been used to purchase weapons.
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