EU Unblocks European Peace Fund for Military Aid to Ukraine

The EU has finally unblocked the European Peace Fund, through which member states are reimbursed for part of the cost of weapons transferred to Ukraine from their own stockpiles.

Kaja Kallas, the EU High Representative for Foreign Affairs and Security Policy, announced this, according to European Pravda.

“The European Peace Fund has also finally been unblocked—and another EUR 1 billion will be allocated for joint arms purchases for Ukraine,” the statement reads.

This refers to the resolution of the issue regarding EUR 6.6 billion.

“There were quite lengthy debates regarding the resolution of the issue concerning EUR 6.6 billion from the European Peace Fund, which had been blocked for quite some time. For the most part, this involves settling past expenditures, but it will also entail the allocation of certain new funds for Ukraine,” it was reported earlier.

European Peace Fund

The largest portion of the package—EUR 4.7 billion —will go toward compensating member states for the cost of military equipment and weapons they have already transferred to Ukraine.

Another EUR 900 million will fund the EU Mission to Provide Military Assistance to Ukraine, and EUR 1 billion is earmarked for new joint procurements of defense equipment.

Some EU countries have already announced their intention to redirect these funds to support Ukraine once they receive compensation.

In particular, Sweden and Germany have said they will redirect the funds they receive as compensation from the unfrozen European Peace Fund to support Ukraine.

Kaja Kallas also reported that Sweden and Germany are not the only countries willing to redirect the compensation to Ukraine, according to Radio Free Europe.

“Many member states set to receive the funds have already stated that they will transfer them to Ukraine,” Kallas said.

On September 25, EU countries agreed on the terms for releasing EUR 6.6 billion from the European Peace Fund.