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Saturday, 29 June
economy

Europe will increase its financial assistance and arms supplies to Ukraine

The European Union will increase financial assistance for the purchase of weapons for Ukraine up to 1 billion euros.

This was stated by German Finance Minister Annalena Baerbockon Monday ahead of a special Foreign Affairs Council in Brussels.

"We will increase financial means for the purchase of military goods to 1 billion euros, in order to make clear, we stand with full solidarity on Ukraine's side, we stand for the protection of the civil population in Ukraine," Baerbock told journalists.

Germany will also ensure that weapons sales from German producers will be carried out as quickly as possible. "Ukraine needs further weapons," she said, without providing any further details due to security concerns.

"This is about life and death, we are in the middle of a war and therefore absolute caution is needed about stating which weapons are to be delivered and where," Baerbock added.

"We are experiencing the Russian government continuing to escalate its rhetoric with regard to nuclear weapons as well as NATO territory," she said.

Baerbock also pointed out that the alliance must prevent the war spreading to other countries. "We have a responsibility towards Ukrainians, but we also have a responsibility towards 450 million Europeans and those that are NATO members," she added. "We cannot take the responsibility that there will be more acts of war in other countries."

"We work on consequently closing sanction loopholes," she said. "Those who benefit from this war“ must be sanctioned, including their family members, Baerbock said.