European Union overcomes threat of Hungary veto to seal $54 billion aid package for Ukraine
10 months, 3 weeks ago

European Union overcomes threat of Hungary veto to seal $54 billion aid package for Ukraine

Associated Press  

BRUSSELS — Leaders of the 27 European Union countries sealed a deal Thursday to provide Ukraine with 50 billion euros in support for its war-ravaged economy after Hungary dropped weeks of threats to veto the measure. European Council President Charles Michel said the agreement “locks in steadfast, long-term, predictable funding for Ukraine” and shows the EU’s determination “to support their future, to support freedom.” The aid package — about two-thirds loans and one-third grants — is not intended to help fight off Russia. Michel said the EU’s move would also send “a signal to the American taxpayers,” which could help the Biden administration in its efforts to get a Ukraine support package through Congress. In a statement from the White House, President Joe Biden commended the EU’s “steadfast support for Ukraine as it continues to defend itself against Russian aggression and fulfill the Euro-Atlantic aspirations of its citizens.” Ukrainian President Volodymyr Zelenskyy welcomed the assistance in a post on X, formerly Twitter. He said that continued financial help from the EU would strengthen Ukraine’s long-term economic stability, “which is no less important than military assistance and sanctions pressure on Russia.” His country could receive the first tranche of money as soon as March, once the European Parliament has endorsed the deal.

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