BRUSSELS: The European Union (EU) is drawing up plans for a twenty-billion-euro (22 billion dollars) fund to be spent over four years to help Ukraine resist Russia’s invasion.
EU foreign policy chief Josep Borrell said on Thursday that after a Brussels ministerial meeting, the union would transform existing support system into a long term commitment to the security and resilience of Ukraine
He said that the EU proposed the establishment of a dedicated section on the European peace facility to provide up to 5 billion euros a year for the next 4 years for the defence requirements of Ukraine. AFP reported.
Envoys confirmed the military aid being discussed was 5 billion euros per year over 4 years, from 2024 to 2027, but one cautioned that the negotiations were at the “early stages”.
EU foreign ministers were presented the plan at the foreign affairs council on Thursday but a more detailed debate would take place on 31 August at their gathering in the Spanish city of Toledo.
Opposition in EU
Some member countries, especillay Hungary that is the best friend of Russia in the EU, may oppose the plan, and final political approval could be delayed until European leaders gather at EU summits in October or even December.
Annalena Baerbock, Germany’s Foreign Minister, did not dispute the twenty-billion figure when asked.
She said that for this the EU need very financial resources, for further the help for Ukraine in the military area, to be able to implement its right to self-defence.
