EU agrees on €50 billion in aid for Ukraine

EU agrees on €50 billion in aid for Ukraine
European Council President Charles Michel and Hungarian Prime Minister Viktor Orbán at the European Council Summit on 1 February 2024. Credit: European Council

The European Council has voted unanimously to provide a further €50 billion in aid for Ukraine – this time avoiding a veto from Hungarian Prime Minister Viktor Orbán.

Orbán had caused a stir by vetoing the aid package at the European Summit between country leaders in December. Fears of a repeat incident characterised the run-up to the Summit on 1 February, but the meeting has achieved its primary aim by overcoming this obstacle.

This time, closed-door negotiations between European Council President Charles Michel, Commission President Ursula von der Leyen and Hungarian, French, German and Italian leaders culminated in an agreement. This was rapidly approved by other Member State representatives.

The final package contains three minor amendments to sway Orbán: there will be an annual Commission report on the implementation of the package, leaders will have the opportunity to debate its implementation, and if necessary, the Council will ask the Commission to propose a review of the budget in two years' time.

The agreement's conclusion reiterates the EU's commitment to monitoring the rule of law in Hungary.

Leaders react

EU leaders have taken to social media to celebrate the bloc's renewed commitment to Ukraine. European Council President Charles Michel celebrated that the agreement ensures "stable, predictable and long-term funding for Ukraine."

"The EU is keeping its promise to Ukraine," posted Belgian Prime Minister Alexander De Croo (Open VLD). "The people of Ukraine and President Zelenskyy are fighting for the freedom of all Europeans. Once again, we reaffirm the unity of the 27 Member States."

For his part, Zelenskyy expressed gratitude to Europe for its continued support. "It is very important that the decision was made by all 27 leaders, which once again proves strong EU unity," he said. "Continued EU financial support for Ukraine will strengthen long-term economic and financial stability, which is no less important than military assistance and sanctions pressure on Russia."

During a video address to the Summit, however, Zelenskyy highlighted a hold-up in accompanying military support. "Unfortunately, the implementation of the European plan to supply one million artillery shells to Ukraine is being delayed," he told leaders. "This too is a signal of global competition, in which Europe cannot afford to lose.​"

While EU leaders view the concessions made as minor, Hungarian Prime Minister Viktor Orbán is likely to frame the added bi-annual review as a victory during domestic debate.

In a video posted on Facebook, Orbán told viewers that Hungary was now "guaranteed" to receive previously blocked EU funds. He added that there had been concern that these funds would go to Ukraine, but that "these fears have been alleviated. We have been assured that that will not be the case."

Related News


Copyright © 2024 The Brussels Times. All Rights Reserved.