The Power Within: The Kyiv Independent’s first-ever magazine. Be among the first to get it.

pre-order now
Skip to content
Edit post

UK proposes plan to establish joint European fund for rearmament, FT reports

by Dmytro Basmat April 3, 2025 7:48 AM 2 min read
Weapons lie on the ground during the all-female training in firearms in Kyiv, Ukraine, on July 6, 2024. (Oksana Parafeniuk / The Kyiv Independent)
This audio is created with AI assistance

The U.K. has begun floating plans to European allies to establish a joint European military fund for the purchase of military equipment and weaponry as a means to rearm Europe, the Financial Times (FT) reported on April 2.

The "non-paper" proposal, which was crafted by U.K. Treasury officials and seen by FT, began circulating among European allies last week with plans to "stockpile" weaponry, as European officials fear Russia may become emboldened to attack another European country by the end of the decade.

European officials have warned that Europe faces critical arms shortages needed for the defense of the continent, as Russia continues to ramp up its arm production. Russia’s military expenditure last year surpassed Europe's spending with Russia dishing out $462 billion, approximately $5 billion more than that of Europe.

A newly established supranational institution would be intended to serve a "coalition of the willing" that could purchase weapons at favourable rates.

“A number of models of supranational institution may support increasing fiscal capacity for defence spending,” the paper read, according to FT. "The institution would be designed to be classified to the rest of the world sector in the national accounts and the equipment purchased by the institution would be recorded on its own balance sheet and not the contributing countries."

The proposal notes countries could more effectively purchase a long list of equipment and weaponry,  including spare parts for tanks and aircraft, artillery shells, air defence missiles, explosives, and logistics aircraft.

The size of the fund was not specified in the proposal.

The draft proposal notes that it does not represent official policy of Prime Minister Keir Starmer's government, and a government spokesperson told FT that it did not comment on "leaks."

The U.K. and France have taken a lead in presenting a united European front on military support for Ukraine, proposing a "coalition of the willing" to send peacekeepers to Ukraine, if a ceasefire is reached.

Russian negotiator meets with Trump envoy in Washington, media report
Kirill Dmitriev, head of Russia’s sovereign wealth fund, who played a role in backchannel diplomacy between Moscow and the Trump administration in 2016, is met Steve Witkoff, President Donald Trump’s envoy, according to Reuters.

News Feed

8:10 PM

Ukraine receives 5,000 more Starlink terminals from Poland, minister says.

"Starlinks will help residents of the front-line territories to stay in touch: call relatives, call emergency services, read the news. Due to attacks and destruction of base stations in the de-occupied territories, regular communication is unavailable," Digital Transformation Minister Mykhailo Fedorov said.
1:54 PM

US committed to NATO membership, Rubio says.

"As we speak right now, the United States is as active in NATO as it has ever been," U.S. Secretary of State Marco Rubio said at a press briefing alongside NATO Secretary General Mark Rutte.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Explaining Ukraine with Kate Tsurkan
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.