European Parliament adopts Act in Support of Ammunition Production for Ukraine

The document aims to build the capacity of the European defense industry and accelerate the supply of artillery ammunition to Ukraine to ensure its right to self-defense against Russian aggression, Ukrinform reports.

It is noted that the decision was made by a majority vote. This means that the final vote on the approval of this document will take place during the second plenary session of the European Parliament in May 2023.

The aforementioned Act in Support of Ammunition Production was proposed by the European Commission to implement the third "track" of the plan to accelerate the production of ammunition and other military equipment at European defense industry enterprises, the need for which arose as a result of Russian aggression against Ukraine and its impact on the entire system of European and global security.

It is known that the first point of the plan envisaged the allocation of a billion euros to compensate member states for urgent supplies of ammunition to Ukraine from existing arsenals.

The second "track", for which another billion euros were allocated, was aimed at accelerating the production of ammunition through joint orders at European defense industry enterprises, both for further supplies of 155 mm artillery shells to Ukraine and for replenishment of European army depots.

It is also noted that the proposed Act in Support of Ammunition Production includes regulatory mechanisms for financing, identifying and eliminating bottlenecks in the supply of raw materials and production, ensuring the sustainability of supply networks, and creating legal conditions for urgent elimination of ammunition shortages in EU warehouses.

At the first stage, the European Commission proposed a budget of EUR 500 million for the implementation of this program, which will be composed of reallocation of budget funding from other programs.

The act to support the production of ammunition was urgently drafted by the European Commission within 5 weeks after the political decision of the European Council. It is added that the European Commission expects the final adoption of the ASAP by the summer of 2023. The regulatory rules under the Act will be in force until mid-2025.

On Tuesday, May 9, the European Parliament extended duty-free trade with Ukraine for another year.