EU agrees to $54 bn assistance for Ukraine

Brussels, February 1

The leaders of the 27 European Union (EU) countries sealed a deal on Thursday to provide Ukraine with a new 50-billion-euro (USD 54 billion) support package despite Hungary’s weeks of threats to veto the move.

European Council President Charles Michel announced the agreement about only an hour into the leaders’ summit in Brussels. “We have a deal,” Michel said in a post on X, formerly known as Twitter.

He said the agreement “locks in steadfast, long-term, predictable funding for Ukraine,” and demonstrated that the “EU is taking leadership and responsibility in support for Ukraine; we know what is at stake.”

It was not immediately clear if any concessions were made to secure Hungarian Prime Minister Viktor Orban’s approval. He raised staunch objections to the financial aid package in December and in the days leading up to Thursday’s summit in Brussels.

On their way into their meeting, several fellow leaders had lashed out at Orban, accusing him of blackmail and playing political games that undermined support for Ukraine and the country’s war-ravaged economy.

Almost two years after Russia’s invasion of Ukraine, the war has ground to a halt and Ukraine’s economy desperately needs propping up. But political infighting in the EU and in the United States has held up a long-term source of funding. Concern has mounted that public support to keep pouring money into Ukraine has started to wane, even though a Russian victory could threaten security across Europe.

“There is no problem with the so-called Ukraine fatigue issue. We have Orban fatigue now in Brussels,” Polish PM Donald Tusk told reporters Thursday. — AP