EU Mulls Using Own Budget to Finance Purchase of Weapons for Ukraine, Reports Suggest

The European Union is considering the possibility of using its own budget to finance purchases of weapons and ammunition supplied to Ukraine, UK press reported on Tuesday, citing sources familiar with the matter.

The European Commission is mulling plans to use the EU budget to provide advance payments to arms producers with a view to encouraging the expanded production of weapons amid concerns over whether the bloc can provide enough arms to Ukraine using existing stockpiles, media noted, Sputnik reported.

The commission's lawyers are assisting in drawing up these plans since the EU key treaties ban the bloc from using its funds for military purposes, the report said.

The EU executive body is likely to develop the proposal and share it among member states ahead of a meeting of the EU defense ministers scheduled to take place on March 7, the Financial Times added.

On Monday, the bloc discussed the idea of joint arms procurement for Ukraine proposed by Estonia, with EU foreign policy chief Josep Borrell supporting the plan that would include a joint purchase of 155mm artillery shells for Kiev, among other things.