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WSJ: the EU wants to create a fund to finance Ukraine to bypass Hungary’s veto

European Union, (bbabo.net). The Wall Street Journal, citing a draft document that emerged as a result of secret discussions among EU countries, wrote that the European External Action Service is developing a new plan to provide assistance to Ukraine.

It is reported that it is planned to create a special military fund for Ukraine, which will include about 6.5 billion euros from the assets of the extra-budgetary European Peace Facility (EPF) and allocate up to 5 billion euros per year from 2024 to 2027.

The initiative, according to The Wall Street Journal, involves using these funds to compensate those EU countries that will provide military assistance to Ukraine in the next four years. The remaining money will be used to pay for the costs of the Ukrainian military training program within the EU.

According to the publication, in 2024, this project could provide compensation of approximately 7.5 billion euros to member states for providing military assistance. It is assumed that this assistance project will allow small European countries to pool their resources for joint procurement and provide “more assistance to Ukraine.”

The creation of a new fund will also facilitate cooperation with Kiev in allocating the necessary resources. This structure of the new fund, the publication notes, will avoid blocking the allocation of funds by Hungary or their use as an instrument of pressure to achieve certain goals.

WSJ: the EU wants to create a fund to finance Ukraine to bypass Hungary’s veto