member states European Union they agreed to raise 3,500m euros this Monday plus the European Peace Mechanism fund, which it uses to finance its Defense policy and has been using since 2022 to supply weapons Ukraine In the context of the Russian occupation.
The agreement includes the extension of the upper limit of this extra-budgetary instrument by 3,500 million liras until the end of 2027, which depends on the contributions of the Member States. With this step, the EU Doubles the starting game Before the mechanism launched in 2020 became the key instrument in the supply of weapons to Ukraine. In this way, Twenty-Sevens seek to ensure the financial sustainability and long-term predictability of the fund they invest in, in order to prevent and respond quickly to crises and conflicts.
In the words of EU Foreign Policy High Representative Josep Borrell, this tool has proven its worth in less than two years. “The way we support our partners on defense issues has completely changed.” almost used up all the funds with the war in Eastern Europe.
The European Peace Mechanism, designed in theory to support the work of armies from third countries and to finance the Armed Forces cooperating with the EU. military support for the first time in its history, after the European bloc decided to send weapons to a warring country, to Ukraine.
Since the early stages of the war, the EU has Different lots of 500 million eurosFinancing arms shipments by Member States, in an unprecedented step for the European bloc to support a third country in the war.