“Until victory” – The European Union has reached a consensus on a new aid package for Ukraine, amounting to $54 billion

Despite Hungary’s initial opposition and criticism of the EU’s military support for Ukraine, all 27 European Union countries have agreed to provide Ukraine with an additional 50 billion euros ($54 billion). European Council President Charles Michel announced the successful deal during a special meeting of EU leaders in Brussels, stating that it secures steady, long-term, and predictable funding for Ukraine, emphasizing the EU’s leadership and responsibility in supporting the country. The decision, made unanimously by all 27 leaders, signals strong EU unity.

Ukraine’s President Volodymyr Zelenskyy welcomed the approval of the aid package, noting its significance for the country’s long-term economic and financial stability as it approaches the third year of the war with Russia. The funding is expected to alleviate Ukraine’s desperation for financial support from Western countries, particularly amid delays in both US and EU aid.

The aid package, agreed upon in December and set to last until 2027, includes making Ukraine a candidate for EU membership. While Hungary’s Prime Minister Viktor Orban, known for close ties with Russian President Vladimir Putin, initially resisted the European Commission’s decision to restrict Hungary’s access to certain funds, the compromise eventually led to Hungary lifting its threat to veto the aid package.

The deal is considered crucial for Ukraine’s security, with the first tranche of 4.5 billion euros ($4.9 billion) expected to be received in March. The EU aims to send a message of unity to Moscow and emphasize its support for Ukraine, especially in a year with the uncertainty of US elections. The EU funding becomes even more significant as a similar aid package from the US remains stalled due to internal political disputes and the upcoming presidential election in November.