04:26EU trade commissioner Valdis Dombrovskis stated the need to boost the EU's financial and military support to Ukraine as he claims Russia is "ramping up its military industry" and "preparing for a long war" during the Riga Conference on Friday.
He mentioned that the European Commission is focusing on strengthening the EU's 'defence capabilities and military industry,' stating: "We need to be able to defend ourselves, and we need to ramp up our own military production and military industry."
He also assured that the G7's promised 50 billion euro aid package from frozen Russian assets is 'getting on track right now' to Ukraine.
"We are providing economic support through our autonomous trade measures, providing Ukraine with access to the EU market, and we are providing a lot of military support," he said.
Dombrovskis admitted that Baltic countries are seeing the most of the Russian-Ukraine conflict's negative impact on the economy, adding that Moscow's actions have affected the investors' confidence and investment flows.
"I think that [future investments and end of the war in Ukraine] brings us back to the topic of President Zelensky's peace plan and President Zelensky's 'Victory Plan', because it is important not to just end this conflict somehow and create another kind of simmering conflict as we had seen in Donbass since 2014, but to arrive at the solution which is just and which is lasting," he said.
The commissioner added that discussions are ongoing on providing 'some kind of war insurance' to bring back investors' confidence which he adds, "will depend on whether it will be lasting and just peace for Ukraine."
These remarks come after Ukrainian President Volodymyr Zelensky presented his new 'Victory Plan' against Russia to the European Council summit on Thursday which he said depended on the 'will of our partners'.
He also said that he wanted to get the funds the EU had seized, 50 billion euros in Russian assets, 'as quickly as possible'.
The 'Victory Plan' included demands for an immediate invitation to join NATO, permission to use long-range weaponry supplied by allies for strikes deep inside Russia, a 'non-nuclear strategic deterrent package' in the country, protection for Ukraine's natural resources and replacing some US troops across Europe with Ukrainian forces.
'We need to ramp up!' - EU Trade Commissioner Dombrovskis calls for increased military, financial support to Ukraine, claims Russia 'preparing for long war'
EU trade commissioner Valdis Dombrovskis stated the need to boost the EU's financial and military support to Ukraine as he claims Russia is "ramping up its military industry" and "preparing for a long war" during the Riga Conference on Friday.
He mentioned that the European Commission is focusing on strengthening the EU's 'defence capabilities and military industry,' stating: "We need to be able to defend ourselves, and we need to ramp up our own military production and military industry."
He also assured that the G7's promised 50 billion euro aid package from frozen Russian assets is 'getting on track right now' to Ukraine.
"We are providing economic support through our autonomous trade measures, providing Ukraine with access to the EU market, and we are providing a lot of military support," he said.
Dombrovskis admitted that Baltic countries are seeing the most of the Russian-Ukraine conflict's negative impact on the economy, adding that Moscow's actions have affected the investors' confidence and investment flows.
"I think that [future investments and end of the war in Ukraine] brings us back to the topic of President Zelensky's peace plan and President Zelensky's 'Victory Plan', because it is important not to just end this conflict somehow and create another kind of simmering conflict as we had seen in Donbass since 2014, but to arrive at the solution which is just and which is lasting," he said.
The commissioner added that discussions are ongoing on providing 'some kind of war insurance' to bring back investors' confidence which he adds, "will depend on whether it will be lasting and just peace for Ukraine."
These remarks come after Ukrainian President Volodymyr Zelensky presented his new 'Victory Plan' against Russia to the European Council summit on Thursday which he said depended on the 'will of our partners'.
He also said that he wanted to get the funds the EU had seized, 50 billion euros in Russian assets, 'as quickly as possible'.
The 'Victory Plan' included demands for an immediate invitation to join NATO, permission to use long-range weaponry supplied by allies for strikes deep inside Russia, a 'non-nuclear strategic deterrent package' in the country, protection for Ukraine's natural resources and replacing some US troops across Europe with Ukrainian forces.
EU trade commissioner Valdis Dombrovskis stated the need to boost the EU's financial and military support to Ukraine as he claims Russia is "ramping up its military industry" and "preparing for a long war" during the Riga Conference on Friday.
He mentioned that the European Commission is focusing on strengthening the EU's 'defence capabilities and military industry,' stating: "We need to be able to defend ourselves, and we need to ramp up our own military production and military industry."
He also assured that the G7's promised 50 billion euro aid package from frozen Russian assets is 'getting on track right now' to Ukraine.
"We are providing economic support through our autonomous trade measures, providing Ukraine with access to the EU market, and we are providing a lot of military support," he said.
Dombrovskis admitted that Baltic countries are seeing the most of the Russian-Ukraine conflict's negative impact on the economy, adding that Moscow's actions have affected the investors' confidence and investment flows.
"I think that [future investments and end of the war in Ukraine] brings us back to the topic of President Zelensky's peace plan and President Zelensky's 'Victory Plan', because it is important not to just end this conflict somehow and create another kind of simmering conflict as we had seen in Donbass since 2014, but to arrive at the solution which is just and which is lasting," he said.
The commissioner added that discussions are ongoing on providing 'some kind of war insurance' to bring back investors' confidence which he adds, "will depend on whether it will be lasting and just peace for Ukraine."
These remarks come after Ukrainian President Volodymyr Zelensky presented his new 'Victory Plan' against Russia to the European Council summit on Thursday which he said depended on the 'will of our partners'.
He also said that he wanted to get the funds the EU had seized, 50 billion euros in Russian assets, 'as quickly as possible'.
The 'Victory Plan' included demands for an immediate invitation to join NATO, permission to use long-range weaponry supplied by allies for strikes deep inside Russia, a 'non-nuclear strategic deterrent package' in the country, protection for Ukraine's natural resources and replacing some US troops across Europe with Ukrainian forces.