Ukraine is looking for money in EU for development of defence industry

Ukraine is requesting funds from the European Union to boost support for its defence industry and expand its non-contract capacity.

Source: Oleksandr Kamyshin, Minister of Strategic Industries of Ukraine, in an interview with Euractiv, as reported by Ukrinform

Quote: "Our goal is to secure additional funds for purchases from Ukrainian arms manufacturers. We decided on various ideas that can be undertaken. Given the size and costs, we [Ukraine’s defence industry] are efficient and capable of producing enough; the only thing lacking is finances," Kamyshin said.

As a solution for this issue, Kamyshin proposes expanding the European Peace Fund to reimburse EU member states for equipment purchased directly from Ukraine and left in Ukraine.

"Second, excess revenue from frozen Russian assets, up to €3 billion, and acquisitions in Ukraine as part of this programme. Looking at the Ukrainian defence sector, we have built a good machine that can work fast. All we need now is to pump sustainable fuel into it, which can only be obtained through earnings from frozen Russian assets; otherwise, we will not be able to continue our work," Kamyshin concluded.

The next approach, he says, will be to include purchases from Ukrainian manufacturers in the European Defence Industry Programme.

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