EU diplomatic chief Josep Borrell said that the EU had depleted its own stockpile of weapons during the conflict in Ukraine and called for considering a joint loan to strengthen the association’s defence capabilities.
“Existing arms depots are depleted and the conflict has developed from a war of stockpiles into a war of production,” Josep Borrell wrote in a blog dedicated to the defence industry.
The diplomat called on EU countries to strengthen defence capabilities and replenish arms stockpiles, “while continuing to provide adequate military support to Ukraine”.
According to the politician, 90 per cent of the European Union’s military production is concentrated in a few countries. This industry generates about 70 billion euros in revenues per year and creates more than 500,000 jobs.
“It provides about 40% of European defence needs, which means that our armies import most of the weapons and equipment they use,” Borrel said.
The politician added that for the past two years, EU countries bought 78% of defence products abroad.
Josep Borrell pointed out that “discussions have recently begun on a joint EU loan to support the efforts needed to invest in pan-European defence capabilities and defence industries.”
“We did it to combat the consequences of the coronavirus pandemic, I do not see why we should not do the same when Russia threatens our security, and we urgently need to build up defence capabilities and develop the defence industry”, – concluded the head of eurodiplomacy.
We shall remind you that earlier former US President Donald Trump said that the countries of the European Union should provide financial and military assistance to Ukraine on an equal footing with the United States.