Contact Members/Sign Up Reg Form

EU Approves 5 Billion Euro Boost for Ukraine Military Fund

In Brussels, EU member states have agreed to inject €5 billion ($5.5 billion) into a central fund dedicated to providing weapons support to Ukraine. This significant decision comes at a critical juncture as Ukraine's other major ally, the United States, exhibits wavering support, while its forces face significant challenges in repelling Russian aggression.

The agreement was facilitated during Belgium's tenure as the EU's rotating presidency. Ambassadors representing the bloc's 27 nations reached a consensus "in principle" to allocate the funds to support arms supplies to Kyiv in 2024.

Following Russia's full-scale invasion of Ukraine in 2022, the European Union undertook a historic move to finance weapons deliveries to a country engaged in conflict. Since then, approximately €6.1 billion from the central European Peace Facility has been committed primarily to reimburse member states for arms sent to Ukraine.

However, efforts to bolster the EU fund by an additional €5 billion faced obstacles, notably from Germany and France. Germany sought to offset its bilateral support for Ukraine against its contribution to the fund, while France advocated for prioritizing purchases from European defense firms.

A compromise was eventually reached, allowing Germany to offset a percentage of its bilateral support against the fund. France secured a commitment that member states would prioritize purchases from European defense firms, with the option to seek supplies outside the EU if certain items were unavailable.

Despite ongoing ammunition shortages and the US's announcement of a $300 million weapons package for Ukraine, further funding remains stalled in the US Congress. Concerns have emerged in Europe about the implications of insufficient support for Kyiv, potentially leading to its defeat and emboldening further Russian aggression.

Efforts to boost Europe's defense industry and support Ukraine will be discussed at an upcoming EU summit in Brussels. However, the EU acknowledges its struggle to meet prior commitments, such as supplying Ukraine with a million artillery shells by this month.

Meanwhile, Russia has intensified its arms production, receiving significant deliveries from Iran and North Korea. The situation underscores the urgency for the EU to bolster Ukraine's defense capabilities and strengthen its own defense industry to counter future threats.

March 14, 2024 1:57 p.m. 6700

#breakingnews #worldnews #headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetworkdnn #EU #Ukraine #MilitaryAid #Belgium #USsupport #RussianAggression #DefenseIndustry #EUsummit #EuropeanUnion #PeaceFacility #WeaponsSupply #Germany #France #DefenseFirms

Pregnant Woman Among Civilian Casualties in Ukraine-Russia Strikes

global news / world news
April 20, 2024 6:07 p.m. 439

Cross-border Attacks: 3 Dead in Russia, 2 Killed by Russian Strike in Ukraine...Read More.

Israeli Strike on Rafah Kills Nine, Including Six Children

global news / world news
April 20, 2024 6:01 p.m. 453

The remains of the six minors, two females, and one male were transported to Rafah's Abu Yousef al-Najjar hospital, as indicated by the hospital's documentation...Read More.

Pregnant Woman Among Civilian Casualties in Ukraine-Russia Strikes

Cross-border Attacks: 3 Dead in Russia, 2 Killed by Russian Strike in Ukraine

Israeli Strike on Rafah Kills Nine, Including Six Children

The remains of the six minors, two females, and one male were transported to Rafah's Abu Yousef al-Najjar hospital, as indicated by the hospital's documentation

UAE President Honors Eight with Abu Dhabi Awards

The Abu Dhabi Awards honored UAE champions in education, sustainability, medicine, and beyond.

Verstappen Clinches Chinese GP Pole After Sprint Triumph

Max Verstappen sealed a flawless day by setting the fastest lap of 1 min 33.660sec, following his victory in the sprint race at the Shanghai International Circu

Shehnaaz Gill Stuns in Black Blazer, Radiates Glam on Social

Shehnaaz Gill sparks social media craze with chic black blazer, oozing glamour and sophistication

Iraq Popular Mobilization Units Members Killed in Base Blast

Explosion at Kalsu base near Baghdad kills one PMU member, injures eight

Dubai's DEWA Unveils Second Infrastructure Manual

17 New Project Types Added in Latest Edition, Totaling 67 Projects

Satellite Data Reveals China's Sinking, Threatening One-Third of Population

Satellite data reveals alarming sinking in China: 45% of urban areas affected.

Dubai Residency Processes 400,000 Passengers Amid Weather Emergency

Dubai Residency Completes Procedures for Over 400,000 Passengers Amid Emergency Weather Conditions

Ease My Trip Shares to Garner Attention Next Week in Stock Market

EaseMyTrip injects ₹33 crore into Mumbai's B2B travel agent, Etrav Tech, in strategic investment move.

Vondrousova's Composure Prevails as She Upsets Sabalenka in Stuttgart Open

Swiatek, the world number one, maintained her flawless tournament record with a commanding victory over Briton Raducanu, extending her run to 10-0.

Disha Patani rocks casual chic at airport in crop top and denim bermuda shorts

Disha's airport ensemble with Bermuda shorts and a crop top exudes freshness and style.

Emirates Airline Returns to Normal Flight Operations; Tim Clark's Open Letter

Clark mentioned, "Clearing the backlog of rebooked passengers and bags will require a few more days.

AI Expert Predicts "Fundamental Change" in News Ecosystem

Journalism has struggled over the past decade or more, lacking a credible vision for its future within the realm of social media," he stated.

Malaysia set to reveal towering landmark surpassing Burj Al Arab

Reaching 325m at its peak, the new tower will surpass Burj Al Arab, matching the height of the Eiffel Tower.

Morgan Wallen Breaks Silence After Nashville Arrest for Chair Incident

Morgan Wallen expresses remorse, takes responsibility, and acknowledges he's not proud of his actions in Nashville incident.

Emirates and Flydubai Resume Normal Operations at DUBAI Airport

Emirates halted check-in for transit passengers from Dubai, while FlyDubai adjusted its flight schedule by canceling some flights.

IREDA Q4 Results: Net profit surges 33%, net interest income rises 35%

IREDA, under Ministry of New and Renewable Energy, saw its shares close at ₹160.80, down by ₹2.30 (1.41%), on the BSE.

Ex-India Star Criticizes Punjab Kings Strategy in Loss to Mumbai Indians

Aakash Chopra expressed dissatisfaction with Punjab Kings' chase approach, criticizing their use of Shashank Singh during the IPL 2024 loss to Mumbai Indians.

Get In Touch

3001E, 30 Floor, Aspin Commercial Tower, Sheikh Zayed Road, Dubai, UAE

+971 56 450 3476

Follow Us

© DNN. All Rights Reserved.