European Union (E.U.) Agrees on Financial Package for Ukraine

On Thursday, leaders of the European Union successfully secured a deal to establish a 50 billion euro fund dedicated to Ukraine, overcoming previous obstacles, particularly the resistance from Hungarian Prime Minister Viktor Orban.

Unity All 27 leaders agreed on an additional €50 billion support package for UKR within the EU budget, the president of the European Council, Charles Michel, said on social media just an hour into the meeting. This locks in steadfast, long-term, predictable funding for Ukraine. EU is taking leadership & responsibility in support of UKR.

Following the successful agreement on Thursday, where European Union leaders secured a deal to establish a 50 billion euro fund for Ukraine, the development marked a significant breakthrough, overcoming hurdles that included resistance from Hungarian Prime Minister Viktor Orban.

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European Union: Uncertainty Surrounds the Deal Struck with Hungary’s Orban Over Ukraine Fund Veto

What, if anything, Mr. Orban received in exchange for giving up his veto for the fund, valued at about $54 billion, was not immediately clear.

He had requested an annual opportunity to veto the disbursement of money to Ukraine, but E.U. officials rejected that proposal. Instead, they agreed to conduct regular reviews of how the money was being spent to address concerns about diversion or corruption.

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