EU mulls 'plan B' to pump money into Ukraine
(Baonghean.vn) - On January 6, RT news agency reported that European Commission President Ursula von der Leyen said that the EU is considering alternative options to continue funding Ukraine, in case member states cannot overcome Hungary's veto.
Budapest had previously blocked a 50 billion euro ($55 billion) aid package for Kiev amid the conflict with Russia.
Speaking at a press conference with Belgian Prime Minister Alexander De Croo on January 5, Ms. von der Leyen emphasized that the EU must "urgently move towards stabilizing financial aid" to Ukraine.
According to the politician, reaching consensus among all 27 member states is “the top priority…”. She added: “But of course we have to prepare for other options. These are operational solutions that we are preparing right now.”
Von der Leyen recalled that just before Christmas, the EU had approved an €18 billion ($20 billion) aid package for Kiev to help “Ukraine meet its needs at the beginning of the year” and give Brussels some time to negotiate the main funding package. “But of course we have to work hard and as fast as possible to make that happen,” the top EU official added.
Last month, Hungary – a long-standing critic of EU policy on Ukraine – blocked a €50 billion aid package for Kiev, due to be disbursed between 2024 and 2027.
Balazs Orban, an adviser to Hungarian Prime Minister Viktor Orban, said Budapest could drop its opposition to the effort if Brussels stopped blocking the entire €30 billion in aid to Hungary, which was withheld after what was seen as a crackdown on democracy. The EU has so far unfrozen only a third of the money, citing progress on judicial reforms.
The Financial Times reported late last month that the EU was studying a mechanism to overcome Hungary's veto, under which member states would provide guarantees to the EU budget, allowing Brussels to lend around €20 billion to Kiev.
A special EU summit on funding for Ukraine will take place on February 1. The EU has provided Ukraine with more than $91 billion in various forms of aid since the conflict between Moscow and Kiev began in February 2022. Russia has repeatedly condemned the arms shipments to Kiev, warning that continued support is becoming a serious burden on EU taxpayers.
