EU pledges $520 million in Ukraine funds at G7 meeting | Russian-Ukrainian War News

The European Union’s foreign policy chief says the funds would be allocated for the purchase of heavy weapons.

The European Union has announced a package of another 500 million euros ($520 million) for Ukraine to buy heavy weapons in its fight against Russia, the bloc’s foreign affairs chief told a meeting of the Group of Seven nations. in Germany.

“Us [EU] will provide a new tranche of 500 million euros more to support the Ukrainian military. It will raise about two billion euros in total,” Josep Borrell told reporters on Friday at Weissenhaus, on Germany’s Baltic Sea coast.

The funds would be allocated for the purchase of heavy weapons and would bring the EU’s total financial support to Ukraine to 2 billion euros ($2.1 billion), it added.

Leading diplomats from Germany, the United Kingdom, Canada, France, Italy, Japan and the United States will also attend the meeting.

They plan to look for more ways to increase pressure on Russia through economic sanctions, isolate Moscow internationally and counter disinformation spread by Russia, Borrell said.

oil embargo

EU diplomats are also scheduled to hold talks on Monday about a possible embargo on Russian oil.

Hungary has resisted the move due to its heavy reliance on Russian imports, but Borrell expressed optimism that there would be a deal.

Hungary believes that a ban would devastate its economy and would only accept any sanctions if crude oil imports from Russia through pipelines were exempt from sanctions.

“I am sure that we will have an agreement, we need this agreement and we will have it. Because we have to get rid of dependence on oil from Russia,” Borrell said.

“If there is no agreement at the level of Ambassadors, on Monday, the Ministers, when they meet at the Council on Foreign Relations, have to give the political impetus. I’ll take care of that a lot.”

Ukrainian Foreign Minister Dmytro Kuleba and his counterpart from neighboring Moldova Nicu Popescu were invited to attend the meeting as guests.

Meanwhile, France said the G7 was committed to helping Ukraine win its war against Russia.

French Foreign Minister Jean-Yves Le Drian said the G7 countries were “very strongly united” in their willingness to “continue long-term support for Ukraine’s struggle for its sovereignty until Ukraine’s victory.”

UK Foreign Secretary Liz Truss said it was “very important” to keep up the pressure on Russian President Vladimir Putin by supplying Ukraine with more weapons and increasing sanctions.

“G7 unity has been vital during this crisis,” he added.

Some 3,500 police officers were deployed to the event site northeast of Hamburg to provide security.

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