The European Union countries are approaching an agreement to create a new Defense Fund with a volume of 1.5 billion euros. This initiative is aimed at strengthening the defense industry of the EU and Ukraine over the next three years, as well as to increase the readiness of the block for possible military challenges through the development of their own production of weapons and ammunition.
According to Bloomberg , the signing of an agreement on the creation of a European Defense Investment Program (EOP) is expected by the end of the year. The program provides for the purchase of military equipment, in particular, using components, 35% made outside the EU.
The purpose of the program is to ensure long -term development of the European Defense Industry, while taking into account the urgent need for military equipment to support Ukraine. The solution should also help in increasing the joint purchases of weapons and ammunition, which is an important element of EU collective security.
At the same time, Member States are concerned about the possible consequences of this step for transatlantic relations, especially with the newly elected US President Donald Trump. He has repeatedly criticized the EU for insufficient defense costs and focused on European products instead of American products.
The investment program will allow the EU to increase joint purchases of military equipment and ammunition, as well as to focus on creating the conditions for increasing production capacity within the block. This will allow the European Union not only to provide stable supply for its own needs, but also to respond more effectively to military threats.
This step is expected to be an important step in strengthening the EU defense capacity and confirming its role as a serious player in the geopolitical arena.
