EU approves additional €500 million in military aid to Ukraine

2022-07-19 07:18:28
EU approves additional €500 million in military aid to Ukraine

The European Union has approved another 500 million euros to supply arms to Ukraine, taking the bloc’s total financial support for Kiev to 2.5 billion euros.

The money will be disbursed via the so-called European Peace Facility, as EU rules prevent the bloc from using its seven-year budget to fund military operations.

The EU approved its first tranche of aid to Ukraine just after Russia launched its special military operation in the country’s eastern Donbas region in late February.

The new pledge comes despite the fact that half of the seven-year facility has been already given to Ukraine in just five months since the conflict started.

Apart from supplying financial aid, the EU has also imposed a wide range of sanctions on Moscow in support of Kiev.

The bans, however, have so far backfired, with inflation across the continent hitting record highs on top of an unprecedented devaluation of the euro.

There is growing disquiet in the EU regarding the negative impact that the sanctions against Russia are having on the European Union's economy.

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