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EU approves another 500 million euros in military aid to Ukraine

Tuesday, 19 July 2022 2:07 AM [ Last Update: Tuesday, 19 July 2022 2:44 AM ]

Ukrainian troops use self-propelled howitzer Bohdana during an operation to retake the Snake island in the second half of June, 2022.

The European Union has approved another 500 million euros to supply arms to Ukraine, taking the bloc’s total financial support for Kiev to 2.5 billion euros.

The money will be disbursed via the so-called European Peace Facility, as EU rules prevent the bloc from using its seven-year budget to fund military operations.

The EU approved its first tranche of aid to Ukraine just after Russia launched its special military operation in the country’s eastern Donbas region in late February.

The new pledge comes despite the fact that half of the seven-year facility has been already given to Ukraine in just five months since the conflict started.

Apart from supplying financial aid, the EU has also imposed a wide range of sanctions on Moscow in support of Kiev.

The bans, however, have so far backfired, with inflation across the continent hitting record highs on top of an unprecedented devaluation of the euro.

There is growing disquiet in the EU regarding the negative impact that the sanctions against Russia are having on the European Union's economy.

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