European Union agrees to $54 billion aid package for Ukraine

Source: The Hill | February 1, 2024 | Brad Dress

The European Union on Thursday agreed to a $54 billion package for embattled Ukraine after overcoming a significant hurdle from Hungary that had for weeks delayed the deal, which will provide much-needed relief for Ukrainians as the U.S. struggles to send new money to Kyiv.

European Council President Charles Michel announced that all 27 member nations backed the plan after he called a summit to discuss how to approve the package blocked by Hungarian Prime Minister Viktor Orban since December.

“This locks in steadfast, long-term, predictable funding for #Ukraine,” Michel wrote on X, formerly Twitter. “EU is taking leadership & responsibility in support for Ukraine; we know what is at stake.”

The financial aid package will support Ukraine over the next four years, securing Kyiv with a crucial lifeline of aid as the war with Russia settles into a long conflict.

It also comes as the U.S., Ukraine’s main supporter, is struggling to lock down a deal in Congress tying border security and support for Kyiv together.

Ukrainian President Volodymyr Zelensky welcomed the EU support Thursday, writing on X that European unity “sends a strong signal that Ukraine will withstand any challenges, as will Europe.”

“We are creating a sustainable financial instrument that will work not only today but also tomorrow and will strengthen Ukrainian resilience, which in turn will prevent the spread of Russian aggression to other parts of Europe,” Zelensky said.


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