BRUSSELS. June 1 (Interfax) - The European Parliament has voted for a bill to increase the production of missiles and ammunition in the European Union, the parliament's press service said after a 446-67 vote with 112 abstentions in Brussels on Thursday.
The bill "aims to accelerate the delivery of ammunition and missiles to Ukraine and to help member states restock their arsenals" by creating a 500-million-euro production capacity funded by the EU to "address the current shortage of defense products, specifically ground-to-ground and artillery ammunition, missiles and their components," the statement said.
Whether this regulation proves effective will be assessed by mid-2024 "taking into account the evolution of the security context. Based on the results, the extension of these measures and the allocation of additional budget may be considered," it said.
Now the European Parliament is ready for talks with the second EU legislature, the Council of the EU, and lawmakers are hoping to reach an agreement as soon as possible before the final vote on the bill in July, the service said.