The European Union will allocate an extra €900 million from extraordinary revenues generated by frozen Russian property for the acquisition of weapons and ammunition for Ukraine, growing the EU’s current whole assist for Ukraine’s defence business to €3.3 billion.
Supply: Charles Fries, Deputy Secretary Basic of the European Exterior Motion Service, in the course of the opening of the second Ukraine–EU Defence Trade Discussion board, as reported by European Pravda
Particulars: Fries emphasised that the €900 million to be allotted for Ukraine’s arms procurement will come from extraordinary revenues of frozen Russian property.
Quote: "On Friday, Kaja Kallas [EU High Representative for Foreign Affairs] introduced that the EU would make investments €1 billion in Ukraine's defence business. […] However this isn’t all. Within the coming two weeks, we may even spend an extra €900 million to acquire weapons and ammunition for Ukraine, all of this funded with the windfall income from the frozen Russian property.
With this, the EU has now supplied a complete of €3.3 billion to assist Ukraine and its defence business."
Particulars: Fries additionally reported that "contracts had been signed in Lviv final week, and cash will now be invested within the slicing fringe of Ukrainian defence business, for instance, the manufacturing of drones and missiles".
Background:
- As beforehand reported by European Pravda, the EU pledged to switch €1 billion in proceeds from Russian property to buy arms from Ukrainian defence corporations.
- In early April, EU Ambassador to Ukraine Katarína Mathernová stated the EU would quickly obtain a second tranche of funds from the income of immobilised Russian property, amounting to €2.1 billion. "The vast majority of the funds will probably be used to buy weapons, ammunition and air defence methods for Ukraine within the type of grants," she famous.
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