A new EU fund for military aid to Ukraine is set to be discussed by the ambassadors of EU member states, according to a report by the online news and analysis website money.pl, citing a document outlining the initiative’s key provisions, which was published by the Polish Press Agency (PAP).
The document proposes that the fund’s resources will come from two sources: contributions from EU member states in proportion to their national income and profits from frozen Russian assets.
The primary goal of the new fund is to supply Ukraine with artillery ammunition, air defense systems and long-range missiles, as well as to train and equip Ukrainian army brigades. Additionally, the initiative aims to launch joint industrial projects to strengthen Ukraine’s defense sector.
To avoid the fate of the European Peace Facility (EPF), which has been blocked by Hungary for several months, the participation in the new initiative might be voluntary. The discussion on the initiative is set to begin on Tuesday.
Moscow, on the other hand, views the military aid to Ukraine as interference in the conflict, insisting that a Russian victory is inevitable and considers any use of funds blocked by sanctions as theft.