Borrell, the stock of European weapons sent to Ukraine is exhausted.
Published on 8.12.2022
The European Union announced at the annual European Defense Investment Conference that it is ready, after 10 months of conflict in Ukraine, to renew funding countries’ stockpiles of arms and ammunition”.
European Union foreign policy chief Josep Borrell said Thursday that “Russia’s war in Ukraine has drained the bloc’s arms stockpiles and demonstrated that it lacks vital capabilities to defend its borders. “.
Josep Borrell added at a defense conference in Brussels: “This war against Ukraine was a big wake-up call for many of us. We know that our military stocks are rapidly depleting due to years of underinvestment. »
And he stressed that “Brussels is ready to renew the financing of the stocks of arms and ammunition of European countries” adding “we must solve the most urgent problems through joint investment and purchases”.
He noted that “the EU will increase its defense spending by around $74 billion, until 2025, to compensate for years of underinvestment resulting from the financial crises”, explaining that “we need to compensate for years of underinvestment -investment, and we must be able to reform the present and start winning the future. To do this, I will announce a figure, the total expenditure announced by the Member States will increase by 70 billion euros until 2025”.
He added: “Ten months after the start of the war in Ukraine, it has become clear that the supply chains are not efficient enough”, noting that “the arms stocks of European countries are no longer sufficient”. .
Borrell continued: “Since last May, a special European Union task force has been assessing, together with Member States, countries’ needs for the purchase of arms and ammunition, including through a joint financing”.
“We called on representatives of the military-industrial complex to provide data on production capabilities. We need to help increase production capacity,” he added.
The European Union’s foreign policy chief revealed that “the European Union has finally agreed on a new joint financing instrument which will facilitate the investment of 500 million euros in the defense “.