EU leaders reach a deal on €50 billion aid package to Ukraine
- 1 February, 00:54
Twenty-seven European Union leaders have unanimously agreed to approve an aid package worth €50 billion for Ukraine, overcoming resistance from Hungary.
Hungarian Prime Minister Viktor Urban who had adamantly pledged to obstruct the funds since December, yielded under mounting pressure. Urban had been pushing for an annual vote on the aid package, a proposal that could have rendered the deal vulnerable to a recurring veto threat from Hungary.
However, the unanimous agreement of 27 EU member states on Thursday, removes any potential obstruction from Hungary.
The agreement that was reached at a summit in Brussels on Thursday, followed a series of last-minute discussions with key leaders, including the Italian prime minister Giorgia Meloni, French president Emmanuel Macron, and German chancellor Olaf Scholz, along with the European Commission and Council presidents Ursula von der Leyen and Charles Michel.
Announcing the deal, Council of Europe President Charles Michel wrote on X: “We have a deal. All 27 leaders agreed on an additional €50 billion support package for Ukraine within the EU budget.”
Ukrainian President Volodymyr Zelenskiy expressed gratitude for the additional funding, stressing that it “once again proves strong EU unity”.
“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,” Zelenskiy said.
Anticipating the initial installment in March, Ukraine's economic ministry provided optimistic expectations. Concerns about Hungary's potential obstruction, as witnessed in a previous European summit in December, were ultimately addressed with the successful approval of the aid package.
