EU to let Ukraine buy British weapons with €60 billion loan
After months of talks, the EU is close to an agreement with the UK that would let Ukraine use the €60 billion military portion of a €90 billion loan to buy weapons from British companies, sources said. The deal, reportedly to be announced as soon as next week at a Paris meeting of Coalition of the Willing countries, would require the UK government to make a financial contribution tied to each contract’s value and interest costs. Officials described the move as a conciliatory alternative after failure to secure UK access to the EU’s €150 billion SAFE defence fund, and member states said it will ease procurement and industry integration.
Ukraine can use €60 billion to buy British military equipment.
Context
The EU and UK failed earlier to agree on UK joining the SAFE defence fund. After months of negotiation they are now close to a deal that could be announced in Paris next week.
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