The Council of Foreign Affairs of the European Union approved additional military aid to Ukraine in the amount of €3.5 billion, which will be directed to the European Peace Fund.
This was reported in the press service of the EU representation in Ukraine.
According to the head of European diplomacy Josep Borrell, now is the time to support Ukraine more than ever.
At the same time, he noted that the Russian Federationʼs full-scale war against Ukraine "destroys the Russian government and affects its political system," and the EU is closely following the events.
What is the European Peace Fund?
The European Peace Fund was created in March 2021 to finance all common foreign and security policy actions related to military and defense issues. In particular, this EU fund is designed to finance the strengthening of the capacity of non-EU countries.
Through this fund, the EU supports the Armed Forces of Ukraine through seven successive support packages, as well as many other countries such as Mozambique, Georgia, Moldova, Mali, Somalia, Niger, Jordan, Bosnia and Herzegovina, Lebanon and Mauritania.
- On June 21, the Committee of Permanent Representatives of EU countries approved the increase of the European Peace Fund by €3.5 billion.
- In March 2023, the EU Council increased the Peace Fund by €2 billion. It also allocates money for military aid to Ukraine.