Russia's war on Ukraine: EU budget response
While Ukraine has received considerable support from the EU and European financial institutions since 2014, Russia's invasion of Ukraine, launched on 24 February 2022, has triggered a historic and twofold mobilisation of EU funds – for humanitarian action and military support. The European Commission has announced over €500 million in financing for humanitarian aid and the Council has decided to use the off-budget European Peace Facility (EPF) to assist Ukraine with €500 million in military aid. For the first time, the EU will direct its funds, €450 million, towards purchasing lethal weapons for a country at war, through the EPF. Should this funding prove insufficient, however, further mobilisation of the EU budget might be necessary. In its 1 March 2022 resolution, the European Parliament announced that it expects the EU and EU Member States 'to activate any EU budget instruments available'.
At a Glance
About this document
Publication type
Author
Policy area
Keyword
- BUSINESS AND COMPETITION
- cooperation policy
- crisis management
- economic geography
- economic policy
- ECONOMICS
- EU aid
- EU budget
- EU expenditure
- EU finance
- Europe
- EUROPEAN UNION
- GEOGRAPHY
- humanitarian aid
- INTERNATIONAL RELATIONS
- international security
- macro-financial assistance
- management
- military cooperation
- military intervention
- political geography
- Russia
- Ukraine