The EU’s plan to expand the production of ammunition and missiles has come into effect.

Tuesday, July 25, 2023
The EU’s plan to expand the production of ammunition and missiles has come into effect.

The Act to Support Ammunition Production (ASAP), legislation developed in the EU to increase ammunition and missile production, became effective on Monday, 23 July. ASAP is designed to increase the EU’s production capacity to address the current shortage of defense products, particularly artillery munitions, missiles, and their components, by implementing targeted measures involving €500M in funding.

Among other things, the members of the European Parliament insisted that the EU countries will provide Ukraine with ammunition financed under this legislation without export restrictions. According to the final version of the regulation, it will remain in effect until June 30, 2025, but this does not concern the continuation or modification of actions initiated under it.

Support independent journalism team

Dear Ukraine Business News reader, we are a team of 20 Ukrainian journalists, researchers, reporters and editors who would humbly ask for your support.

Previous post
Ukraine has already exported more than 1.6 million tons of cereals and legumes.

Ukraine has already exported more than 1.6 million tons of cereals and legumes.

Next post
China secretly sold drones to Russia for over $100M.

China secretly sold drones to Russia for over $100M.

Previous Main Topics