EU Edges Closer to €40 Billion Military Aid Package for Ukraine

European Union member states are making headway on a military aid package for Ukraine, potentially reaching €40 billion ($43.7 billion), ahead of a key leaders’ summit later this week, as per Bloomberg.

Following Monday’s meeting of EU foreign ministers, the bloc’s high representative for foreign affairs, Kaja Kallas, reported “broad political support” for the initiative, noting ongoing discussions regarding the specifics of the package.

The proposed aid, under discussion since last month with an initial target of at least €20 billion, aims to provide Ukraine with military resources, including two million rounds of artillery ammunition this year. The package also encompasses air defense systems, deep-precision strike missiles, drones, and other weaponry.

The plan allows for both in-kind and financial contributions from a coalition of willing member states. The suggested model encourages contributions proportionate to the size of each nation’s economy. While the majority of member states reportedly favor moving toward an agreement, some, including France and Italy, have requested further time and more detailed information, according to sources familiar with the discussions. Hungary has consistently opposed providing any aid to Ukraine.

EU leaders will further discuss the proposal at a summit in Brussels on Thursday. However, sources indicate that a final decision is not expected this week.