EU has not approved extra €20 bln military support fund for Ukraine

On February 1, at an extraordinary summit, the EU members failed to decide on the allocation of €20 billion for Ukraine military support, yet progress was made in advancing this issue, European Truth reports.

The EU emphasized its readiness to continue to provide Ukraine with "timely, predictable and sustainable military support" through the European Peace Fund, the work of the EU training mission for the Ukrainian military, and bilateral assistance.

No decision has yet been made on the creation of a special fund within the European Peace Fund to support Ukraine worth €20 billion for four years.

However, they state that this issue is expected to be resolved by March.

The EU Council President Charles Michel noted that "progress has been made" on this issue.

The leaders also agreed on the "urgent need" to speed up the supply of ammunition and missiles to Ukraine of the promise to send one million artillery shells.

To this end, EU countries are called upon to "explore all options" to meet Ukraine's needs and accelerate these efforts.

In July 2023, EU foreign ministers met in Brussels to discuss the possibility of allocating €5 billion in annual military aid to Ukraine from the European Peace Fund over the next 4 years.

The EU's top diplomat, Josep Borrell, said that it could be a four-year special fund (Ukraine Assistance Fund) of €5 billion per year.

Hungary opposed the EU's attempt to create a long-term fund of up to €20 billion to support the Ukrainian army.

The EU already provides military assistance to Ukraine through the Peace Fund (in particular, it reimburses member states for weapons provided to Ukraine), but it is provided in tranches that can be blocked by individual member states.

On February 1, 2024, President Volodymyr Zelensky, in his address to the European Council, the summit of EU leaders, called for a separate instrument for Ukraine in the European Peace Fund, which paid for military support for Ukrainian forces.