Borrell proposed to create a new fund for military assistance to Ukraine after 2023

The EU proposed to create a new fund to provide military support to Ukraine in 2024-2027. This was stated by the head of EU diplomacy, Josep Borrell, writes Interfax.

“I offered [создать] Ukraine Support Fund for the period 2024-2027 Its goal is to ensure the reliability of our military assistance,” he said and specified that the fund will be linked to the European Peace Fund.

According to him, the volume of the fund’s resources could reach 5 billion euros per year and this is “a ceiling, not a spending target.” Borrell expressed the hope that the consent to establish the fund should be received before the end of the year.

July 18 edition of Politico, citing five European diplomats reportedthat during 2024-2028. The EU may create a new fund to help the Armed Forces of Ukraine in the amount of 20 billion euros. It was noted that the EU will not directly pay for weapons for Ukraine – instead, the funds of the fund will be spent on covering the expenses of states that will purchase and transfer weapons to Kyiv.

The Russian authorities have repeatedly criticized the supply of military aid to Ukraine and pointed to the growing direct and indirect involvement of Western countries in the conflict in Ukraine. Russian President Vladimir Putin said that the Russian army in Ukraine is opposed to “virtually the entire military machine of the collective West.”