EU agrees to mobilise 5th tranche of military aid of 500 million Euros to assist Ukraine

The European Union has taken the final decision to provide the fifth tranche of 500 million euros for military supplies to war-torn Ukraine in an effort to fight the ‘unjustified’ Russian aggression, EU High Representative Josep Borrell stated on Wednesday. Taking to Twitter, Borrell said, “EU Member States agreed to mobilize 5th tranche of military assistance of €500M to further support Ukraine’s Armed Forces.” He further revealed that he attended the Ministerial Ukraine Defence Contact Group meeting. He also said that together with allies, the EU remains dedicated and steadfast in its support for Ukraine. 

With this addition, the EU has now allocated 2.5 billion euros to military assistance for Ukraine. As per the Tass report, regardless of whether they are brand-new advanced equipment or outdated decommissioned weapons, this funding is being utilised as compensation for EU member states that transfer their arms to Ukraine. 

These 2.5 billion euros have been provided from the EU budget for the full seven-year 2021–2027 term, a diplomatic source from Europe in Brussels noted, and the EU External Action is presently looking for fresh funding. 

EU aid to Ukraine

In addition to this, the European Council has agreed to allow the fifth tranche to Ukraine under European Peace Facility, as per the media report. Charles Michel, the President of the EU Council, expressed his approval of the Council's decision to provide Ukraine with further defence aid on his official Twitter account. This came after the EU promised to provide Ukraine with an additional 500 million euros in military aid to bolster the defence of the country devastated by conflict. 

Charles Michel stressed in a tweet that Europe would continue to work for peace and defence of its values and affirmed Europe's support for Kyiv. Michel tweeted, "Europe continues delivering for peace and defence of our values.” 

Besides this, the 27-nation EU's financial ministers reportedly agreed to lend the Ukrainian government one billion euros ($1 billion), according to the Associated Press. Moreover, this increase brings the total amount of EU macro-financial help to Ukraine this year to 2.2 billion euros. A preliminary 1.2-billion-euro financing plan was approved by the EU's finance ministers days before Russia's extensive strike on February 24. 

EU sanctions Russia amid Ukraine crisis

Meanwhile, in order to put pressure on the Kremlin to cease the conflict in Ukraine, EU countries have also imposed sanctions against Russia. Six packages of sanctions have already been imposed by the EU on Russia, the most recent of which was made public in June. 

According to the Hungarian Foreign Minister Peter Szijjarto, the new set of EU sanctions on Moscow would target at least 48 individuals, including the Deputy Prime Minister, as well as nine additional companies, including Sberbank. The Foreign Minister of Hungary stated that the 27-nation bloc intends to impose new restrictions on Russian-related deposits, audits, procurement, and consultancy. They also intend to impose an embargo on Russian gold. 

(Image: AP)