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EU Ambassadors approved a draft of the ASAP regulation aiming to increase the bloc’s ammunition production capacity to one million rounds per year for Ukraine, the Swedish Presidency of the EU Council reported on June 23.
The move allows the EU Council to negotiate with the European Parliament on the regulation’s approval. For it to enter into force, an agreement between the two institutions is required.
The Act in Support of Ammunition Production (ASAP) aims to speed up the delivery of ammunition to Ukraine and help member states replenish their arsenals.
The European Union will allocate 500 million euros ($538 million) to increase its production capacity to address the shortages of military material. The European Commission will monitor the potential availability of the necessary products on the market.
The ASAP regulation is part of the EU’s three-step plan to supply Ukraine with 2 billion euros worth of ammunition, agreed on March 20.
In the first phase, the bloc dedicated one billion euros to reimburse countries that could send their stockpiles immediately. Another billion was allocated for the joint purchase of new rounds, and the final part of the program is increasing the EU production capabilities.
(Updated: )
