Implementation of the common security and defence policy – annual report 2024

What changes

• The report welcomes the ReArm Europe plan, a five-point initiative proposed by the Commission President on March 4, 2025, aimed at enhancing European defence.
• The report notes the establishment of a dedicated Ukraine Assistance Fund under the European Peace Facility (EPF) and calls for increased financial resources for military assistance to Ukraine.
• The report welcomes the Council's decision to use net profits from immobilized Russian Central Bank assets for further military support to Ukraine and its defence industry.

Expected impact

• The report highlights that the European Investment Bank's lending policy currently excludes financing for ammunition and weapons, impacting defence industry investment.
• The report calls for the EU and its Member States to accelerate commitments made in the Versailles Declaration to achieve greater strategic autonomy and bolster defence capabilities.
• The report notes that the EU aims for a production capacity of 2 million artillery shells per year by the end of 2025, while Russia currently produces three million annually.

Limitations

• The document is a resolution and does not contain specific legislative articles or detailed policy proposals that would allow for a deeper analysis of specific legal changes or regulatory impacts beyond what is stated in the resolution's text.
• The document refers to various reports and declarations, but the full content of these referenced documents is not provided, limiting the ability to cross-reference or elaborate on their specific findings.
• The document discusses future plans and proposals (e.g., 'ReArm Europe plan', 'European Defence Industrial Strategy') without providing the detailed text of these initiatives, making it impossible to analyze their precise content or implications.