The deal was struck after Hungary’s Viktor Orban – Russia’s closest ally in the EU – backed the plan, but sparked fury from the 26 bloc counterparts by thwarting a December aid deal.
EU leaders on Thursday struck a deal with Viktor Orban to get 50 billion euros (US$54 billion) in financial aid to Ukraine, overcoming the Hungarian leader’s veto with surprising speed at a crunch summit in Brussels.
“All 27 leaders agreed on an additional EUR50 billion support package for Ukraine within the EU budget,” European Council president Charles Michel, who chairs the summit, wrote on X, formerly Twitter.
“This locks in steadfast, long-term, predictable funding for Ukraine.”
The abrupt about-face from Orban on the vitally needed four-year funding package for Kyiv came as after EU leaders offered a possible review of the spending in two years.
“EU Member States one more time show their solidarity and unity in the actions to Ukrainian people to withstand the war,” wrote Ukraine’s Prime Minister Denis Shmygal.
“Each of your votes is a significant contribution to our joint victory.”
Ukrainian leader Volodymyr Zelensky was appreciative of the new funding.
“Grateful to Charles Michel and EU leaders for establishing the €50 billion Ukraine Facility for 2024-2027. It is very important that the decision was made by all 27 leaders, which once again proves strong EU unity.
Continued EU financial support for Ukraine will strengthen long-term economic and financial stability, which is no less important than military assistance and sanctions pressure on Russia.”
As doubts swirl over future support from Ukraine’s other major ally, the United States, the EU deal is a major boost for Kyiv as Russia’s war nears the start of its third year.
