https://sputnikglobe.com/20230221/eu-mulls-using-own-budget-to-finance-purchase-of-weapons-for-ukraine-reports-suggest-1107647632.html
EU Mulls Using Own Budget to Finance Purchase of Weapons for Ukraine, Reports Suggest
EU Mulls Using Own Budget to Finance Purchase of Weapons for Ukraine, Reports Suggest
Sputnik International
The European Union is considering the possibility of using its own budget to finance purchases of weapons and ammunition supplied to Ukraine, UK press reported.
2023-02-21T06:59+0000
2023-02-21T06:59+0000
2023-04-12T17:05+0000
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ukraine
european union (eu)
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The European Commission is mulling plans to use the EU budget to provide advance payments to arms producers with a view to encouraging the expanded production of weapons amid concerns over whether the bloc can provide enough arms to Ukraine using existing stockpiles, media noted.The commission's lawyers are assisting in drawing up these plans since the EU key treaties ban the bloc from using its funds for military purposes, the report said.The EU executive body is likely to develop the proposal and share it among member states ahead of a meeting of the EU defense ministers scheduled to take place on March 7, the Financial Times added.On Monday, the bloc discussed the idea of joint arms procurement for Ukraine proposed by Estonia, with EU foreign policy chief Josep Borrell supporting the plan that would include a joint purchase of 155mm artillery shells for Kiev, among other things.Western countries started increasingly providing Ukraine with a variety of military support, including anti-tank missiles and mines, howitzers, grenade launchers, mortars and armored vehicles, after Russia launched a military operation there in February 2022.In late January, NATO states agreed to deliver tanks to Kiev in an effort to provide the country necessary equipment for a possible counter-offensive later in the year. The Kremlin has repeatedly warned against further escalation leading to the US and NATO's direct involvement in the conflict.
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EU Mulls Using Own Budget to Finance Purchase of Weapons for Ukraine, Reports Suggest
06:59 GMT 21.02.2023 (Updated: 17:05 GMT 12.04.2023) MOSCOW (Sputnik) - The European Union is considering the possibility of using its own budget to finance purchases of weapons and ammunition supplied to Ukraine, UK press reported on Tuesday, citing sources familiar with the matter.
The European Commission is mulling plans to use the
EU budget to provide advance payments to arms producers with a view to encouraging the expanded production of weapons amid concerns over whether the bloc can provide enough arms to Ukraine using existing stockpiles, media noted.
The commission's lawyers are assisting in drawing up these plans since the EU key treaties ban the bloc from using its funds for military purposes, the report said.
The EU executive body is likely to develop the proposal and share it among member states ahead of a meeting of the EU defense ministers scheduled to take place on March 7, the Financial Times added.
On Monday, the bloc discussed the idea of joint arms procurement for Ukraine proposed by Estonia, with EU foreign policy chief Josep Borrell supporting the plan that would include a joint purchase of 155mm
artillery shells for Kiev, among other things.
Western countries started increasingly providing Ukraine with a variety of military support, including anti-tank missiles and mines, howitzers, grenade launchers, mortars and armored vehicles, after Russia launched a military operation there in February 2022.
In late January, NATO states agreed to deliver tanks to Kiev in an effort to provide the country necessary equipment for a possible counter-offensive later in the year. The Kremlin has repeatedly warned against further escalation leading to the US and NATO's direct involvement in the conflict.
