EU To Boost Ukraine’s Military Manufacturing With Funds And European Firms Amidst Putin’s Invasion
On Monday, Josep Borrell, the High Representative of the European Union for Foreign Policy, proposed using European funds to enhance military manufacturing in Ukraine. This initiative comes in response to the Russian invasion ordered by Vladimir Putin in February 2022. Borrell emphasized the importance of local production in Ukraine, supported by European firms, to streamline production times, reduce transportation costs and tailor armaments to Ukraine’s specific battlefield needs.
Borrell highlighted that the European Peace Mechanism could be used to subsidize weapon supplies to Kyiv. The EU’s goal is to support the Ukrainian defense industry by fostering cooperation between European and Ukrainian arms companies. Priority resources such as air defense, ammunition, missiles and drones are of particular interest for increasing local manufacturing in Ukraine. Ukrainian Minister of Strategic Industry Oleksandr Kamyshin emphasized the need for more funds to produce weapons quickly to support the front lines.
The forum aims to strengthen the Ukrainian defense industry which has demonstrated competitiveness and alignment with European standards. Moreover, according to a recent report by think tank EurActiv, Europe’s Defense industrial strategy aims at seeing 50% of its military acquisitions sourced from European equipment by 2030 and 40% joint collaborations. Furthermore, this strategy includes a budget line specifically dedicated for enhancing the Ukrainian Defense industry.
