Ukraine live ticker: EU reaches agreement on financing arms deliveries 2024-03-13 18:23:36

After months of negotiations, the EU states have agreed to continue joint financing of military equipment for Ukraine. According to the agreement reached in Brussels on Wednesday, the move is intended to enable the delivery of Weapons, ammunition and other goods worth at least five billion euros guarantee, according to information from the current Belgian EU Council Presidency and diplomats.

Specifically, it is planned to provide the European Peace Facility (EFF) with additional funds. You can use this financing instrument EU member states will be reimbursed for military support for Ukraine attacked by Russia and joint orders will be paid for.

At the same time, the new rules are intended to ensure more fairness in support for Ukraine. This is relevant for the federal government because it has already promised Ukraine military aid worth more than seven billion euros for this year alone, and at the same time Germany, as the largest economy, usually finances around a quarter of the EU’s joint spending. The new rules should now make it possible for bilateral aid to be counted towards around half of the EU financing contribution.

German EU Ambassador Michael Clauß described the agreement on Wednesday evening as “good news for Ukraine”. It enables the particularly quick and unbureaucratic bilateral delivery of military goods as part of the EU support for Ukraine, he said.

The agreement reached on Wednesday must now be confirmed again by the Council of Member States. However, this is considered a formality.