The EU is preparing a military aid package for Ukraine worth €20 billion, according to Bloomberg.

The European Union is preparing a substantial package of additional military assistance for Ukraine, estimated at around 20 billion euros (nearly 21 billion dollars).

This information was reported by RBK-Ukraine citing Bloomberg.

A source familiar with the matter informed Western media that the EU is attempting to coordinate such assistance for Ukraine amid efforts by U.S. President Donald Trump to achieve a swift peace settlement with Russia.

According to Bloomberg, the initiative will focus on:

• delivering artillery ammunition,
• air defense systems,
• high-precision strike missiles,
• drones,
• and other weaponry.

Additionally, it is noted that the EU's support package aims to strengthen Ukrainian military brigades.

When the EU might agree on the new aid package for Ukraine

"The bloc seeks to agree on a fundamental initiative that is open to contributions in kind and cash from member states and like-minded allies, at the foreign ministers' meeting next week, according to plans from individuals who spoke on condition of anonymity," Bloomberg's publication states.

As the Western publication reports, EU leaders are expected to finalize the cost and sign the package then.

At the same time, there is a risk that the planned timeline could shift, as Hungary has indicated it may oppose any new military assistance to Ukraine. Furthermore, the timing is influenced by the upcoming elections in Germany, scheduled for this Sunday.

Bloomberg also writes that the EU is hurrying with plans to support Ukraine and provide Kyiv with security guarantees in the event of a potential peace agreement with Russia while increasing its own defense spending since Washington has engaged in negotiations with Moscow.

New defense assistance package from the EU

Recall that earlier, Politico reported on the preparation of a large military assistance package from the EU for Ukraine totaling at least 6 billion euros.

However, this amount could increase to 10 billion euros if EU countries find more weapons in their stocks. According to media reports, the package may include over 1.5 million artillery shells, as well as air defense systems.

On February 21, European Commissioner for Defense Andrius Kubilius stated that Ukraine will receive a new military aid package from the EU, which will serve as a "powerful signal" of Europe's support for Ukrainians.