MOSCOW (Pakistan Point News / Sputnik - 18th July, 2022) The European Commission will allocate 500 million euro ($507 million) to restore depleted military stockpiles of EU countries due to weapons supply to Ukraine, Spanish newspaper El Pais reported on Monday, citing informed sources.
Brussels' initiative is designed for two years and will allow centralizing arms purchases in order to avoid unnecessary competition and duplication in placing orders. It was developed with an eye on the prospect of a protracted conflict in Ukraine and based on the experience of joint procurement of COVID-19 vaccines, according to the report.
The initiative is expected to be presented in Brussels this week.
The initial package of 500 million Euros is intended to meet the most urgent needs including the replenishment of ammunition, small arms and man-portable air-defense systems. In several Eastern European countries, a number of systems inherited from the Soviet era are expected to be replaced, the report says.
