The European Union called on member states to quickly replenish their depleted stockpiles of ammunition and military equipment and offered financial incentives to those willing to work together to replace equipment sent to Ukraine, AP reported.

The European Commission is offering a fund of 500 million euros over two years to countries to replenish their reserves.

The Commission is also ready to provide incentives to encourage countries to replace their existing Soviet-era battle tanks, heavy artillery and armored vehicles. Some already supply them to Ukraine and want to replace the equipment.

The commission is also looking to quickly set up a task force to work with countries to pinpoint their military needs and make sure they don't conflict with each other when buying equipment in the short term as they respond to the security crisis caused by the war in Ukraine.

In the longer term, countries should develop more drones and aerial refueling systems, upgrade European tanks and combat vehicles, strengthen naval capabilities, and strengthen the bloc's cyber defense capabilities.