The EU Council has increased the fund that helps Ukraine with weapons by €2B.

On December 12, the EU Council approved a decision to increase funding for the European Peace Fund in 2023 by €2B, announcing the European Council’s website. There is still the possibility that the fund’s financial ceiling can grow, and by 2027, it will amount to €5.5B. The head of European diplomacy, Josep Borrell, noted that the adopted decision will provide funding to continue providing specific military support to European partners’ armed forces. The final decision on increasing the fund will be made at the beginning of 2023. The European Peace Fund was established in March 2021 and provides military aid to European partners, including Ukraine.