Brussels 01.02.2024 Today the European Union agreed a funding deal of $50 billion for Ukraine in a special Summit, which focused on supply of a fix budget to Kiev in coming four years.
The funds had been blocked since December Summit after Hungary’s Prime Minister Viktor Orban had vetoed the deal. Failure to have reached the EU agreement of support would have been a blow to Ukraine, at a time when its outmanned and outgunned forces are struggling on the battlefield. Meanwhile, military aid from Washington has been paused as a result of a larger political argument in the Congress.

An official conclusions document, published by the EU Council, said that the 27 member states had approved €50 billion to be sent to Ukraine from 2024 to 2027. It detailed €33 billion “in the form of loans” and €17 billion in “non-repayable support” that could be “potentially” generated from frozen Russian assets.

“We have a deal. #Unity All 27 leaders agreed on an additional €50 billion support package for Ukraine within the EU budget,” the EU Council’s President Charles Michel wrote on X, formerly known as Twitter. “This locks in steadfast, long-term, predictable funding for #Ukraine.

“EU is taking leadership & responsibility in support for Ukraine; we know what is at stake.”