Bloomberg: The European Union will next week sign a plan for the joint purchase of ammunition for Ukraine

Oleksiy Yarmolenko

Next week, the European Union plans to sign a plan for the joint procurement of ammunition for Ukraine. But discussions about financing mechanisms are still ongoing among countries.

Bloomberg writes about it.

This issue is planned to be discussed during the meeting of the ministers of defense and foreign affairs of the member states of the European Union next week. It will also be taken to the summit of EU leaders.

EU High Representative for Foreign Affairs Josep Borrell proposed to allocate a billion euros from the European Peace Fund for the transfer of ammunition to Ukraine from stocks available in Europe. Another billion can be spent on the joint purchase of shells by EU countries.

But it is currently unclear what volumes will be available for Ukraine and whether it will be enough. Ukraine claims that it needs about a million rounds of ammunition a year, while the European defense industry can produce about 25,000 shells a month.

Also, the countries cannot yet decide on a financing mechanism. Some want to buy ammunition through the European Defense Agency, while others want to allocate funds from the European Peace Fund. It is also not known exactly how much money each EU state will have to allocate.