top of page
  • By The Financial District

EU Sets Aside 500-M Euro For Ukraine War; Sanctions vs Iran Loom

European Union (EU) foreign ministers are expected to agree on a mission to train 15,000 Ukrainian troops from next month and an extra 500 million euros worth of funding for arms deliveries to Kyiv as they met in Luxembourg on Monday, Sabine Siebold and Charlotte Van Campenhout reported for Reuters.


Photo Insert: The foreign ministers will agree to add a further 500 million euros ($486 million) to a fund that reimburses EU member states for arms delivered to Ukraine, bringing the total amount earmarked for arms for Kyiv to over 3 billion euros.



The ministers are also likely to slap additional sanctions on Iran over Tehran's latest crackdown on protesters and take a fresh look at the bloc's relations with China, paving the way for a potentially tougher stance on Beijing.


Two senior EU officials said the military training would start in mid-November and would take place on EU territory at one hub in Poland and another in Germany. Several EU countries have already been instructing Ukrainian troops on how to use specific weapons and this will continue.



The EU has supported Kyiv since the start of the war with financial and, in a first for the bloc, military aid.


The foreign ministers will agree to add a further 500 million euros ($486 million) to a fund that reimburses EU member states for arms delivered to Ukraine, bringing the total amount earmarked for arms for Kyiv to over 3 billion euros.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

Unlike earlier tranches, the additional money will also cover costs for the repair and maintenance of weapons already delivered to Ukraine.


EU ministers are expected to impose travel bans and asset freezes on some 15 Iranians involved in the crackdown on demonstrators in Iran, who took to the streets after the death in police custody of 22-year-old Mahsa Amini.


Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

EU foreign ministers will also discuss the transfer of Iranian drones to Russia, opening the way for potential further sanctions that could be agreed at a later date. With regard to China, ministers will look into a "fine-tuning" of the relations, officials said, noting that Beijing is a crucial trade partner for the EU and Europe depends on Chinese products and raw materials.


Diplomats say Brussels is concerned that Chinese President Xi Jinping is setting China on an increasingly authoritarian path and uneasy about Xi's support of Russian President Vladimir Putin.



WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic



Optimize asset flow management and real-time inventory visibility with RFID tracking devices and custom cloud solutions.
Sweetmat disinfection mat

bottom of page