EU To Invest 1 Billion Euros in Ukraine’s Military Industry

The European External Action Service (EEAS) confirms that the European Commission has already signed the initial contracts for investments in Ukraine's defense industry, announced EU Deputy Secretary-General for External Action, Charles Fries, at a cooperation conference on defense industry collaboration between the EU and Ukraine in Brussels, according to TASS.

“On May 9, the High Representative of the EU for Foreign Affairs and Security Policy stated that the EU is investing 1 billion euros in Ukraine’s military industry, and the first contracts have already been signed,” Charles Fries said.

He also expressed the view that Ukraine “can teach the EU’s defense industry a great deal.”

According to him, the EU and Ukraine have decided to establish “another joint commission” that will oversee military-technical cooperation between Brussels and Kyiv.

Fries noted that EU Foreign Policy Chief Kaja Kallas was unable to personally participate in the forum, despite being announced by the organizers, but she sent her “best wishes” to the participants.

On May 9, the European Commission announced that the EU has spent a total of 150 billion euros supporting Ukraine, of which 50 billion euros went to arms supplies to Kyiv—amounting to 0.1% of the EU’s GDP.