All 27 European Union (EU) members have agreed on an additional 50 billion euro ($54bn) support package for Ukraine, despite threats from Hungary to veto the move.
The Hungarian Prime Minister, Viktor Orban, who had been vowing to block the funds since December, finally succumbed to pressure after a series of 11th-hour meetings.
The meetings involved Italian Prime Minister Giorgia Meloni, French President Emmanuel Macron and the German Chancellor Olaf Scholz, as well as the European Commission and Council Presidents, Ursula von der Leyen and Charles Michel.
Orban had vetoed an agreement during a summit in December, and efforts have been ongoing to bring him onboard.
Announcing the agreement, Charles Michel, President of the European council, stated on X that it “locks in steadfast, long-term, predictable funding for Ukraine.”
“EU is taking leadership and responsibility in support for Ukraine; we know what is at stake,” he added.
Michel’s announcement indicates leaders succeeded in convincing the Hungarian leader.
The first tranche of the aid money, which is five billion euros ($5.4bn) is expected in March and the funding will run for four yers.
Nonetheless, it will be discussed every year, and then in a couple of years, it will be up for review. Hungary insisted on the yearly review.
EU funding for Ukraine is especially significant as a similar aid package from the United States continues to be held up because of internal political disputes and further complicated by the presidential election in November.
After the deal was sealed, Estonian Prime Minister, Kaja Kallas noted that it was an “important signal to Ukraine that the EU stands behind you long-term, until victory.”
Latvia’s Prime Minister, Evika Siliņa also posted on X that the agreement will strengthen Ukraine in its fight for freedom, adding that it was “excellent news for the security of Latvia and all of Europe.”
Ukraine Hails Deal
Ukrainian Prime Minister Denys Shmygal hailed the agreement reached by the EU and expressed gratitude to the member states.
“Each of your votes is a significant contribution to our joint victory,” Shmyhal said in a message on social media.
He added that the agreement was a display of “solidarity” and “unity” in the 27-member bloc.
In addition, Dmytro Kuleba, Ukraine’s Foreign Minister, said that the EU agreement on €50bn for Kyiv “is a step of historic proportions.”
“It demonstrates that any talk about alleged ‘fatigue’ or ‘waning support’ is simply false,” Kuleba stressed.
“Europe has once again demonstrated its strength and ability to make major decisions independent of others. The EU is leading the way and setting an example for the rest of the world to follow.”
Dmytro Kuleba
Moreover, Ukrainian President, Volodymyr Zelenskyy noted on X that he was grateful to Michel and EU leaders for “establishing the €50 billion Ukraine Facility.”
“It is very important that the decision was made by all 27 leaders, which once again proves strong EU unity,” Zelenskyy 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,” Zelenskyy added.
In a video address to leaders gathered in Brussels, the Ukrainian leader said the decision on 50 billion euros in aid “is a clear signal that Ukraine will withstand and that Europe will withstand.”
Nonetheless, he also urged the EU to step up on military aid.
Zelenskyy said, “Unfortunately, the implementation of the European plan to supply one million artillery shells to Ukraine is being delayed.”
He noted, “And this too is a signal of global competition, in which Europe cannot afford to lose.”
“And that’s why today your unity is so needed in creating the Ukraine Assistance Fund within our European Peace Facility,” Zelenskyy added.
