EU negotiators have struck a deal aimed at boosting long-term ammunition and missile supplies for Ukraine, the Spanish EU presidency announced early on Friday.
Representatives of EU member states and the European Parliament have agreed on a plan to provide Europe’s defence industry with financial incentives to rapidly expand production capacities.
The initiative, proposed by the European Commission in May, is to be funded with 500 million euros (544 million U.S. dollars) from the bloc’s joint budget.
“This is yet another proof of the EU’s unwavering commitment to supporting Ukraine,” said Spanish Defence Minister Margarita Robles.
It would also strengthen the European Union’s defence technology and industrial base, ultimately ensuring the long-term security and defence of EU citizens, she added in a statement.
EU member states have struggled so far to supply Ukraine with sufficient ground-to-ground and artillery ammunition as well as missiles for the country to fend off Russia’s invasion.
The increase in production is now aimed at preventing further bottlenecks for the Ukrainian armed forces, as well as ensuring that EU states remain capable of defending themselves and can maintain sufficient stocks.
The agreement still needs to be formally confirmed by the EU’s member states and parliament.
EU sources believe the regulation could be officially adopted and come into force before the end of July.
