The EU is working on its 13th package of sanctions and wants a €5B reform to the military aid fund for Ukraine.

The EU has started discussions on a new package of sanctions, which it aims to approve by February 24, the second anniversary of the Russian invasion of Ukraine. Potential measures could include new lists, more trade restrictions, and tackling Moscow’s ongoing attempts to circumvent EU sanctions both through third countries and companies within the EU.

In addition, the EU’s foreign policy department presented to member states a proposal to reform the fund that provides military support to Ukraine, as the EU moves from providing weapons from existing stockpiles to purchasing new ones. It is necessary to reach a political agreement as soon as possible on the proposed goal – to increase the financial ceiling of the European Peace Fund by €5B, with this amount designated for Ukraine, the document states.

It is noted that further annual increases can be foreseen until 2027, based on Ukraine’s needs and subject to political leadership from the member states.