The EU supports an increase in the financing of the arms fund for Ukraine but has not yet agreed on the amount.

The leaders of the EU states support an increase in financing for the European Peace Fund (EPF), which allocates funds to purchase weapons for Ukraine. The European Council also emphasized the urgent need to speed up the supply of missiles and ammunition within the initiative’s framework to transfer one million shells to Ukraine and provide Ukraine with more air defense systems.

At the same time, the EU still cannot agree on the creation of a special fund within the EPF for Ukraine’s purchase of €20B in munitions over four years. European officials hoped that EU leaders would release at least €5B to fill the fund for Ukraine’s immediate needs.

EU leaders have delayed the approval of the agreement to fill the EPF because some states want to change the mechanisms of the fund’s functioning. Diplomatic sources note that France and Germany, the largest contributor countries to the European Peace Fund with more than 40% of the total, are considering reforming this intergovernmental fund.