Official EU budget amendment announcements or press releases

EU to Free Up Tens of Billions from Regional Cohesion Funds for Defence Amid Ukraine War and Trump Concerns

Nov 11, 2024, 09:14 PM

The European Union is set to release tens of billions of euros from its budget to bolster defence and security initiatives. This decision comes in response to escalating pressures stemming from Russia's ongoing war in Ukraine and concerns regarding increased defence funding under a potential return of Donald Trump to the White House. The EU plans to amend its spending policies, allowing regional cohesion funds to be allocated for security-related projects. This strategic shift aims to enhance the EU's military capabilities and overall security posture.