(MENAFN- UkrinForm) The EU member states will sign an agreement to jointly procure 155-mm artillery shells for Ukraine. This is said in a report was published by reuters , according to Ukrinform.
“Several European Union countries will sign an agreement on Monday to team up to buy artillery rounds for Ukraine as part of an effort to speed up and increase the supply of shells that Kyiv says it urgently needs to fight Russia's invasion,” the report says.
It is noted that 27 EU member states and Norway can participate, but the precise number is unclear as some were still examining the proposal.
“First orders under the plan could be placed by the end of May,” the report says.
EU officials say the move should result in larger single orders for arms firms, thereby encouraging them to invest in increasing capacity, and reduce competition between governments that are driving up prices by trying to place similar orders.
“EU officials say it will be months, at least, before any shells ordered as part of joint procurement reach Ukraine,” the report says.
According to Reuters, a big joint munitions-buying initiative would mark a significant step in EU integration, as defence procurement has largely been the preserve of the bloc's national governments.
MENAFN18032023000193011044ID1105806984
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.