EU Unveils Ambitious Defense Strategy to Boost Capabilities and Readiness
The European Commission (EC) has revealed an ambitious defense industrial strategy, aiming to bolster Europe's defense capabilities and readiness. The plan, the first of its kind, seeks to enhance collaborative investment, research, and production across EU member states. It also proposes innovative funding methods, including potentially utilizing windfall profits from frozen Russian assets.
The EC wants to map EU defense supply chains and stockpile critical products using EU funds. It has proposed an initial budget of 1.5 billion euros for the European Defence Industry Programme. The strategy hopes to increase EU defense spending significantly in the next seven-year budget, starting in 2028.
To achieve its goals, the EC encourages member states to identify and work on European defense projects of common interest. It also sets targets for procurement spending: by 2030, at least 50% of member states' procurement budget should go to EU-based suppliers, and at least 40% of defense equipment should be procured collaboratively. Additionally, the EC proposes a new European military sales mechanism, inspired by the U.S. foreign military sales model.
The EC's defense industrial strategy, if well-funded and supported by member states, could significantly enhance Europe's defense industrial readiness. It aims to increase collaborative investment, production, and procurement, ultimately strengthening the EU's defense capabilities. The proposal to use windfall profits from frozen Russian assets for joint military equipment purchases for Ukraine also demonstrates the EC's commitment to supporting immediate defense needs.
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