EU offers to create a "special" €20 billion account for military aid for Ukraine

Foreign Affairs ministers of EU countries have discussed the possibility of creating a separate arm of the European Peace Facility to meet Ukraine’s long-term defence needs.

Source: Josep Borrell, High Representative of the European Union for Foreign Affairs and Security Policy, quoted by European Pravda

Details: Borrell said that the EU proposed creating a new arm of the European Peace Facility to allocate up to €5 billion a year for Ukraine’s defence needs in the next four years.

According to Borrell, the EU is now focused on turning its current support for Ukraine into a long-term security commitment.

He said that this is related to the "security commitments" that the EU can offer Ukraine.

Moreover, Borrell said this will allow the EU to utilise the same instrument that "has worked very well and is working" to support Ukraine, but it will be dedicated specifically to Ukraine’s defence needs over the next several years.

Borrell added that the issue will be discussed in more detail at the end of August at an informal meeting of EU foreign ministers in Toledo. As previously reported, the EU is hoping to approve the initiative by the fall.

Although the EU is already providing similar assistance to Ukraine through the European Peace Facility, this aid is provided in tranches, each of which can be blocked by individual member states. The fund is also rapidly running out of money and has recently had to be increased.

Previously: In late June, Borrell suggested that the EU's military support for Ukraine should be a long-term project aimed at strategically strengthening its defence capabilities.

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