EU Gives Initial Backing to €5 Billion Weapons Fund for Ukraine


Ambassadors of the European Union agreed in principle to provide €5 billion ($5.5 billion) in military support for Ukraine, after member states reached a compromise to allow purchases from outside the bloc.

The envoys backed the plan at a meeting Wednesday, the Belgian presidency of the EU said in a post on X. The agreement boosts the European Peace Facility (EPF), a mechanism used to refund member states for weapons they send Ukraine.

Read more…
Source: Bloomberg