The European Union continues to strengthen its support for Ukraine in the face of Russian aggression. European Commission President Ursula von der Leyen announced the decision to allocate 6 billion euros for the purchase of drones for Ukraine. These funds will be directed through the ERA Loans program, financed by the profits from frozen assets of the Russian Federation.
This is reported by Finway
Financial Assistance and New Alliances
Speaking in the European Parliament, Ursula von der Leyen emphasized that Europe intends not only to provide funding but also to establish a strategic alliance with Ukraine in the field of unmanned aerial vehicles. She highlighted the need for extensive support for Ukrainian innovations to maintain military superiority and strengthen Europe’s security.
“I can announce that Europe will allocate 6 billion euros from the ERA loan and will form an alliance with Ukraine in the field of unmanned aerial vehicles. Ukraine has ingenuity. Now it needs scale. And together we can provide that, so Ukraine maintains its advantage, and Europe strengthens its own,” said the President of the European Commission.
Reparations Loan and Sanction Pressure
According to von der Leyen, funding for Ukraine’s military needs will be based on cash reserves related to frozen Russian assets. She explained that the assets themselves will remain untouched, and the community will bear the responsibility for the risks. Ukraine will return the funds received only after Russia pays reparations. The President of the European Commission also reminded that before the full-scale invasion, Ukraine hardly used drones, but now these technologies account for two-thirds of the losses of Russian equipment. At the same time, Russia, with its developed military industry, is quickly closing the gap in this area.
The European Commission plans to launch a new program called Qualitative Military Edge, which will promote investments in the development of the capabilities of the Armed Forces of Ukraine. In addition to financial assistance, Ursula von der Leyen stressed the need to intensify sanction pressure on Russia. She reported that the 19th package of sanctions is being prepared in cooperation with international partners, with particular attention to reducing dependence on Russian fossil fuels, combating the shadow fleet and the activities of third countries, as well as the necessity for continued support for Ukraine.