Opportunity for EU Countries to Purchase Ukrainian Weapons with European Peace Fund.

EU countries will now have the opportunity to buy weapons made in Ukraine for Ukraine using funds from the European Peace Fund. The announcement was made by Oleksandr Kamyshin, Minister of Strategic Industries, after the DFNC1: EU Edition Defense Industries Forum. During the forum, it was confirmed that EU member states can use the European Peace Fund to cover the costs of purchasing weapons from Ukrainian manufacturers for their defense forces. This is the first time that Ukrainian companies will be included on the list of approved suppliers. This funding is crucial for Ukraine, as the country is unable to afford all the products that the defense industry can produce. The gap between the production capacity and the country’s budget is currently $10 billion, according to Kamyshin.

Additionally, discussions were held during the event regarding the use of frozen Russian assets to finance Ukrainian defense orders. Kamyshin stated that the mechanism to use these funds, along with the Peace Fund, is being detailed. If approved, the money can be quickly used to purchase Ukrainian weapons. Christian Wiegand, the spokesman for the European Commission, mentioned that Ukraine could access the first funds from these revenues by summer, provided a prompt decision is made. In the meantime, the Ukrainian government has proposed a short-term solution called the Zbroyari: Manufacturing Freedom initiative. The goal is to secure $10 billion in direct defense orders from partner countries, including unmanned systems, ammunition, and other weapons for the Ukrainian Defense Forces.

ملخص الأخبار

• Using frozen Russian assets to finance Ukrainian defense was discussed at the event
• Christian Wiegand mentioned Ukraine could access the funds by summer if a prompt decision is made
• The Zbroyari: Manufacturing Freedom initiative aims to secure $10 billion in defense orders for Ukraine