Copyright © 2024 Euromaidanpress.com

The work of Euromaidan Press is supported by the International Renaissance Foundation

When referencing our materials, please include an active hyperlink to the Euromaidan Press material and a maximum 500-character extract of the story. To reprint anything longer, written permission must be acquired from [email protected].

Privacy and Cookie Policies.

EU set to increase weapons fund used for Ukraine by €3.5 billion – Bloomberg

EU set to increase weapons fund used for Ukraine by €3.5 billion – Bloomberg

EU member states are set to increase the size of its fund to finance weapons deliveries to Ukraine by nearly 50%, but Hungary is still blocking plans for more of that money to be alloted, according to people familiar with the discussions, Bloomberg says.

The EU intends to increase the budget of the European Peace Facility by €3.5 billion ($3.8 billion), raising the total to approximately €7.9 billion. This funding supports military deliveries to Ukraine while also providing assistance to other nations.

The fund has mainly supported military aid to Ukraine, but Hungary’s objection to Ukraine, including a Hungarian bank on a list that condemns business dealings with Russia, is blocking a €500 million 8th tranche, anonymous sources told Bloomberg. EU ambassadors have approved the measure, awaiting final approval from foreign ministers on 26 June.

Read also:

You could close this page. Or you could join our community and help us produce more materials like this.  We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia's war against Ukraine and Ukraine's struggle to build a democratic society. A little bit goes a long way: for as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

To suggest a correction or clarification, write to us here

You can also highlight the text and press Ctrl + Enter

Please leave your suggestions or corrections here


    Will the West continue to support Ukraine?
    • Know what moves the world.
    • Stay informed with Kompreno.
    • Get quality journalism from across Europe.
    Special discount
    for Euromaidan Press readers
    Euromaidan Press

    We are an independent media outlet that relies solely on advertising revenue to sustain itself. We do not endorse or promote any products or services for financial gain. Therefore, we kindly ask for your support by disabling your ad blocker. Your assistance helps us continue providing quality content. Thank you!

    Related Posts