European Union’s foreign policy head says the funds would be allocated for the purchase of heavy weapons.
The European Union (E.U.) has announced another financial package of € 500 million (U.S. $ 520 million) for Ukraine to buy heavy weapons in its fight against Russia.
The decision was made during the G7 Meet in Germany where diplomats from Germany, United Kingdom (U.K.), Canada France Italy Japan and United States (U.S.) agreed to exert more pressure on Russia.
The money will be provided via an E.U. fund for military assistance – European Peace Facility (EPF). The first package of € 500 million was approved in late February 2022 and then topped up with 2 more packages of the same amount. This fourth package will take the E.U.’s total financial assistance to € 2 billion (U.S. $ 2.1 billion).
Taking it to twitter, High Representative of the E.U. for Foreign Affairs and Security Policy – Josep Borrell Fontelles tweeted,
When we say Ukraine is fighting for us, this is not an empty phrase.
— Josep Borrell Fontelles (@JosepBorrellF) May 13, 2022
To words, action follows: I am proposing to Member States the 4th tranche of €500 million of the European Peace Facility, to provide further support to Ukrainian defence.@G7https://t.co/GL0HtAi8A0 pic.twitter.com/foE6j0g4Ex
They also discussed to impose more economic sanctions on Russia, isolate it from international community and countering disinformation spread by Russia. The E.U. is also planning to hold talks on a possible embargo on Russian oil.
Hungary has said that it will not support sanctions against Russian energy as they are too reliant on those supplies and there are no immediate alternatives. Hungary believes a ban would devastate its economy, and it would only agree to any sanctions if crude oil imports from Russia via pipeline were exempted from the sanctions. However, Borrell expressed optimism that there would be an agreement.
Speaking on the occasion, Borrell said, “I am sure we will have an agreement – we need this agreement, and we will have it. Because we have to get rid of the oil dependency on Russia.”
He further said, “If there is no agreement at the level of the Ambassadors, on Monday, the Ministers, when they gather at the Foreign Affairs Council, they have to provide the political impetus. I will take very much care of that.”
Meanwhile, France said the G7 was committed to helping Ukraine win its war against Russia. The Foreign Minister of France – Jean-Yves Le Drian said the G7 countries are “very strongly united” in their will to “continue in the long term to support Ukraine’s fight for its sovereignty until Ukraine’s victory”. The Foreign Secretary of U.K. – Liz Truss also said that it is “very important” to keep up the pressure on Russia by supplying more weapons to Ukraine and increasing sanctions.
