European Union (EU) leaders on Thursday, the 1st of February, unanimously agreed on a 50-billion-euro aid package for Ukraine, sending a message to the US amid its own internal disagreements over support for Ukraine, while overcoming Hungarian opposition. The aid is vital for Ukraine, which is heavily dependent on Western support in its war with Russia, which is about to enter its third year, reports Reuters.
Ukrainian President Volodymyr Zelensky has welcomed the EU deal, saying the aid will strengthen his country’s long-term economic and financial stability.
German Chancellor Olaf Scholz has expressed the hope that the EU’s decision to provide aid to Ukraine will contribute
to US President Joe Biden’s efforts to win the support of Congress.
French President Emmanuel Macron has stressed that the EU is sending a clear message that it remains steadfast in its support for Ukraine, pointing out that Russia should not expect fatigue from Europeans.
Following the agreement, the value of Ukrainian dollar bonds rose. Kyiv expects to receive the first payment of 4.5 billion euros from the EU in March, part of a total of 50 billion euros to be granted by 2027.
The agreement on new aid for Ukraine was reached after overcoming weeks of resistance from Hungarian Prime Minister Viktor Orban, who had vetoed the aid in December.
Orban has said on Thursday that he gave his approval after receiving assurances that the aid would be used wisely and would not come from EU funds intended for Budapest.
Diplomats has told Reuters that in exchange for Hungary’s agreement, the bloc had not pledged EU funds to Budapest until all conditions were met. But the agreement provides for an annual discussion of the aid package and the possibility to review it after two years, if necessary, without giving Budapest the option to veto.
Polish Prime Minister Donald Tusk said on Thursday that it was time for Orbán to choose sides in Russia’s war.
A German diplomat has pointed to Orban’s growing isolation in the EU and suggested that economic pressure on Hungary might have influenced his decision to approve aid.
EU leaders at the Brussels summit has also agreed on the urgent need to speed up the delivery of ammunition and missiles to Ukraine. A day earlier, the EU executive said the bloc’s target of sending one million artillery shells to Ukraine by March would not be fully met, according to Reuters.
Also read: Hungary open to use EU funds for Ukraine aid package, says Orban adviser
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