EU finally approves €1 billion for ammunition procurement

On Friday, the Council of the European Union decided to allocate one billion euros from the European Peace Fund as part of its initiative to provide Ukraine with artillery ammunition.

This is stated in the report of the EU Council.

As part of the assistance, the EU will finance the provision of 155 mm artillery shells and, if necessary, missiles to the Armed Forces of Ukraine, which will be jointly purchased by EU member states from the European defense industry.

The funds, as agreed last week by the permanent representatives of the EU member states, will be allocated to manufacturers in the EU and Norway, while components for production may be purchased outside these countries.

This compromise formula is intended to resolve a dispute between some EU members who could not agree on whether to sign contracts for the purchase of ammunition with third countries.

Author - Olena Madiak, 05/05/2023