EU ministers approve new 150 bln euro arms fund
ReutersMay 27, 2025 9:19 AM
BRUSSELS, May 27 (Reuters) - Ministers from European Union countries on Tuesday approved the creation of a 150 billion euro ($170.7 billion) arms fund, driven by fears of a Russian attack in years to come and doubts about U.S. security commitments to the continent.
The ministers' approval was the final legal step in setting up the Security Action for Europe (SAFE) scheme, which is backed by joint EU borrowing and will disburse loans to European countries for joint defence projects.
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