The second tranche of the EU for military needs of Ukraine may be €1.9 billion

The second tranche of the European Union's funding for Ukraine's military needs from the windfall from frozen Russian assets could amount to €1.9 billion, to be disbursed next spring.

A senior European diplomat told reporters in Brussels on Friday while announcing the agenda of the upcoming EU Council meeting at the level of defense ministers to be held on Tuesday, November 19, in Brussels.

He reminded that in August, Ukraine received the first tranche of €1.4 billion, of which €400 million was allocated to the Ukrainian defense industry. “This means that we buy not only for Ukraine, but also from Ukraine. That is why I say that the EU has become the largest public foreign investor in the Ukrainian defense industry. And we plan to repeat this for the second tranche. I believe the High Representative (Josep Borrell) will mention this next Tuesday. So now we are working on the second tranche of windfall profits. This time the amount is 1.9 billion euros. That is, it is slightly more than the first time. This money will be available only next year, in March-April 2025,” said the senior European diplomat.

He clarified that work is currently underway to prepare the conditions for the disbursement of this second tranche. “Of course, we are doing this with Ukraine, and we will continue to respond to what Ukraine needs. We are doing this at the request of Ukraine. All our work is based on what Ukraine asks us to provide,” the source added.

The high-ranking European diplomat also raised the issue of the so-called G7 loan, in which the EU's share will be about 18 billion euros. “This loan, as you know, will consist of three components: budgetary, reconstruction and military. We don't know what share of the EU loan will be used for military needs. But Ukraine has the opportunity to use this loan, for example, not only to invest in its own industry, which is good, but also to use this money to purchase equipment abroad, especially in Europe, if they want to,” he elaborated.

The source also confirmed that 98% of the 1 million ammunition initiative has already been completed.

In addition, the senior diplomat stated that the EU training mission has already trained 65,000 Ukrainian soldiers. “The goal is 75,000 by the end of the winter, and I repeat that with such statistics, the EU has become the largest training provider for the Ukrainian army,” he emphasized.

According to the source, EU High Representative Josep Borrell is expected to return to the issue of unblocking the European Peace Fund, which should be used by member states to compensate for the weapons supplied to Ukraine.

The senior European diplomat also said that after discussing these issues, an open session of the EU Council will be held, which will be attended for the first time by the newly inaugurated NATO Secretary General Mark Rutte and, via video link, by Ukrainian Defense Minister Rustem Umerov and Presidential Advisor on Strategic Issues Oleksandr Kamyshyn. “We will listen to what Ukraine has to say about the latest developments on the front line and the overall situation in Ukraine,” he explained.

In addition, the EU defense ministers are expected to discuss the consequences of Iran, China, and North Korea's increased support for Russia.

Source: Interfax