European Council in Brussels. Support of 50 billion euros for Ukraine approved

European Council in Brussels. Support of 50 billion euros for Ukraine approved
European Council in Brussels. Support of 50 billion euros for Ukraine approved
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The agreement of the 27 Member States follows the proposal from last December, with one addition: provides for an annual Commission report on the implementation of this funding; a debate on the implementation of this mechanism; and, if necessary, within two years, the European Council may ask the Commission to present a proposal for revision.

According to RTP, since the beginning of January, the presidency of the European Council has held interinstitutional talks with Parliament and the Commission on the “aid mechanism for Ukraine, the STEP and the MFF, in order to be ready as quickly as possible so that an agreement could be approved at European Council level”.

The president of the European Commission was one of the first to welcome the aid agreement. In a message posted on social media, Ursula von der Leyen announced that the “European Council has achieved priorities” by supporting Ukraine.

Charles Michel, president of the European Council, also confirmed the agreement. “We have a deal”he announced.

“All 27 leaders agreed on an additional €50 billion support package for Ukraine within the EU budget. This guarantees constant, long-term and predictable funding for Ukraine,” he added. “The EU is taking leadership and responsibility in supporting Ukraine; we know what is at stake.”

The biggest expectation is to know what the Hungarian prime minister’s public position will be, considering that Hungary is the country of the 27 that maintains the greatest ties to Moscow, after the invasion of Ukraine.

The extraordinary meeting of EU heads of government and state had been threatened in the last two months by a possible new blockade by Hungary regarding the financial reserve of 50 billion euros for the reconstruction and modernization of Ukraine, foreseen as part of the review of the EU Multiannual Financial Framework (MFF) 2024-2027. Viktor Órban even threatened to veto the new support.

The agreement was reached after multilateral meetings on Wednesday night with several European leaders. Meetings that continued into Thursday morning.

Viktor Órban managed to have this aid mechanism for Ukraine re-evaluated after two years. This renegotiation does not allow the Hungarian prime minister any veto power.

European leaders agreed that it is necessary to guarantee “stability to Ukraine”.

The president of Ukraine meanwhile thanked the European Council for approving the funds to help the country, invaded by Russia in 2022.

In a message published on the social network important of the 27 leaders which, once again, demonstrates the strong unity in the EU”.

Charles Michel and European Commission President Ursula von der Leyen met with the leaders of Germany, France, Italy and Hungary for consultations aimed at unblocking the impasse in the review of the multiannual financial framework. António Costa also participated in this meeting, still as prime minister.

At the morning meeting, even before the summit, a safeguard requested by Hungary was agreed, which included the possibility that, in the context of an annual debate and after two years, the European Council would ask the European Commission to present a proposal on the review of the mechanism for Ukraine.

The new aid package is part of the financial framework for the next four years: 33 billion would be loans to Kiev and the other 17 billion in grants.

With estimates indicating that Ukraine, at war caused by the Russian invasion almost two years ago, could lose liquidity from March onwards, this European summit was shrouded in urgency and also frustration among the 26 EU leaders in the face of Hungarian skepticism.

It ended up being possible to give the green light to this financial reserve of 50 billion euros (of which 17 billion euros in grants) for the next four years for the reconstruction of post-war Ukraine, an amount that will be mobilized depending on the situation on the ground .


The article is in Portuguese

Tags: European Council Brussels Support billion euros Ukraine approved

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