This figure is continually rising.
Borrell elaborated on the pivotal role of the European Peace Fund (EPF), an intergovernmental, non-budgetary instrument established in 2021 to aid partners with military equipment, a feat unachievable with the EU budget alone. Initially capped at €5 billion, the EPF's financial ceiling has been expanded to €17 billion to accommodate growing needs.
The EPF, though not initially designed for such a purpose, has emerged as a cornerstone of the EU's military support for Ukraine. Borrell stated that €6.1 billion from the EPF has been utilized to bolster support from EU member states, cumulatively delivering €31 billion worth of military equipment to Ukraine since the conflict began.
These funds have facilitated continuous military aid, including the training of 60,000 Ukrainian soldiers by summer this year, the delivery of 500,000 artillery shells, with expectations to surpass 1 million by year's end. Additionally, the European defense industry is fulfilling commercial contracts to supply Ukraine with another 400,000 shells. The Czech initiative to procure ammunition outside the EU further enhances these contributions.
However, Borrell acknowledged the need for greater resources, stating, "This is far from enough, and we need to increase both our production capacity and financial resources directed to support Ukraine." In response, a new €5 billion Ukraine Assistance Fund under the EPF was established at the Foreign Affairs Council to continue military support. Borrell also proposed redirecting 90% of extraordinary income from frozen Russian assets towards the EPF to amplify military support capabilities for Ukraine.
