EU Agrees to Release €6.6 Billion in Military Aid Linked Funds for Ukraine
EU Funding Deal for Ukraine: Details and Implications
Overview of the Agreement
BRUSSELS, Sept 25 (Reuters) - European Union member countries have agreed a deal to release €6.6 billion ($7.5 billion) in EU funds linked to military aid for Ukraine, EU foreign policy chief Kaja Kallas said on Friday.
Source and Purpose of the Funds
The money will come from the European Peace Facility, a fund used by EU members to finance military aid to countries outside the bloc. It also refunds EU governments for military aid they have provided.
Breakdown of the Released Funds
Of the released funds, €900 million will go to the EU's military assistance mission for Ukraine and €1 billion will fund new joint procurement of equipment, Kallas said in a post on X.
Reimbursement to Member States
She added the remaining €4.7 billion will go to reimburse member states, some of whom have already said they would channel their share to Ukraine.
Political Reactions and Context
"That’s good news for Ukraine and bad news for Russia," Kallas said. "Moscow’s hybrid attacks try to intimidate Europe into scaling back its support for Ukraine. Europe is doing the opposite."
Previous Obstacles to Funding
Money related to Ukraine stuck in the fund for months, initially blocked by the previous Hungarian government, under Russia-friendly Prime Minister Viktor Orban.
Uncertainties and Next Steps
It was unclear exactly how much of the funds to be released under Friday's agreement would directly benefit Ukraine. It will be up to individual EU governments to decide how much of their refunds they allocate to fresh military aid for Kyiv.
Additional Information
($1 = 0.8770 euros)
(Reporting by Inti Landauroa and Lili Bayer; Editing by Andrew Gray)