EU to release US$7.5 billion linked to Ukraine military aid
Money related to Ukraine had stuck in the fund for months, blocked by the previous Hungarian government under Viktor Orban
European Union member countries have agreed a deal to release €6.6 billion (US$7.5 billion) in EU funds linked to military aid for Ukraine, EU foreign policy chief Kaja Kallas said on Friday.
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.
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 social media.
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.
