The Council of the European Union announced the decision in a statement.The EDIP aims to strengthen the EU’s defense readiness by making the European defense and technological industrial base more competitive.Part of the funds — €300 million — will be allocated to the Ukraine Support Instrument, which will help integrate Ukraine’s defense industry into the European defense market.Under the agreement, the new program will also create the EU’s first-ever security-of-supply mechanism for defense products. In addition, a centralized catalogue of defense products will be introduced to simplify procurement and enhance the global competitiveness of European manufacturers.The EU Council and European Parliament agreed that the cost of components originating from outside the EU and associated countries (EEA states) should not exceed 35% of the estimated value of the final product’s components. No components will be procured from non-associated countries that contradict the security and defense interests of the EU or its member states.Danish Deputy Prime Minister and Defense Minister Troels Lund Poulsen emphasized the importance of the initiative:“The European Defense Industry Program is key to Europe's defense readiness. It will boost our capacity to produce and supply critical defense equipment and ensure that we can respond swiftly and decisively to the increasingly complex security environment. At the same time, it will deepen our partnership with Ukraine by bringing its defense industry closer to ours - to the mutual benefit of Europe and Ukraine,” he stated.The agreement must be confirmed by both institutions before its official adoption.On October 13, Ukrainian President Volodymyr Zelenskyy announced that the European Union had decided to allocate funds for the establishment of a special tribunal to prosecute Russia’s war crimes.