EU finalized €50 bn aid draft for Ukraine and Netherlands will transfer more F-16 fighter jets - Monday brief

Russia's war against Ukraine

• Ukrainian strikes on Russian refineries cause reduction in exports from Russia;

• Zelenskyy reveals how much Ukrainian territory is under Russian occupation;

• Minister of so-called Luhansk People's Republic eliminated during shelling.

Full draft of €50 billion program for Ukraine prepared by EU, Minister of Economy says

The European Union has finalized a comprehensive draft of the Ukraine Facility program, earmarking €50 billion in support for Ukraine. The text is currently under discussion for approval, announces Ukraine's First Deputy Prime Minister and Minister of Economy, Yulia Svyrydenko.

"Full draft of the program (Ukraine Facility - Ed.) is already prepared, and currently, there is a trialogue among the European Council, the European Commission, and the European Parliament for its final approval," Svyrydenko reveals.

According to her, the plan includes 144 indicators, of which Ukraine aims to achieve 45 by 2024.

The allocation of funds will proceed through three components:

• €39 billion - direct budget support
• €8 billion - technical assistance
• €3 billion - covering interest on loans under the program

In 2024, Ukraine expects to receive the initial €18 billion.

Netherlands plans additional transfer of six F-16 fighter jets to Ukraine

The Netherlands plans to provide Ukraine with six additional F-16 fighter jets. In total, the Armed Forces of Ukraine will receive 24 aircraft, according to the Minister of Defense of the Netherlands, Kaj Ollongren.

"The Netherlands Ministry of Defence is readying 6 additional F-16 fighter aircraft for delivery to Ukraine," the statement reads.

Thus, the Armed Forces of Ukraine will receive a total of 24 aircraft from the Netherlands.

"Ukraine's aerial superiority is essential for countering Russian aggression," added the minister.

Crimean Bridge won't stand by year's end, Ukrainian Navy Commander predicts

The Commander of the Naval Forces of Ukraine, Vice Admiral Oleksii Neizhpapa, believes that the Crimean Bridge built by the Russians will not be completed by the end of 2024, according to an interview with famous Ukrainian journalist Dmytro Gordon.

During the conversation, the journalist asked Neizhpapa about the Crimean Bridge and what to expect. In response, Neizhpapa stated that he believes the Crimean Bridge will not withstand until the end of the year.

"I think there is not much time left to wait. At least this year for sure (it won't be there)," the commander said.

He firmly answered whether the Crimean Bridge can be considered potentially "non-permanent" and added that he knows how to achieve this.

Portuguese Foreign and Education Ministers arrive in Kyiv

Portuguese Foreign Minister João Cravinho and Minister of Education João Costa arrived in Kyiv, according to the Portuguese Ministry of Foreign Affairs.

"Ministers have just arrived in Kyiv. A two-day visit with the war and the recovery of Ukraine on the agenda," the statement reads.

In turn, Kravinho says he is very happy to be in Kyiv again.

"Very good to be back in Kyiv, with my colleague Education Minister João Costa, to reiterate our support for Ukraine's reconstruction," he says.

UK intelligence identifies funds sources for Russia's increased military spending

Russia's planned revenue target for 2024 is unlikely to be achieved as envisioned in the budget plan. It may well be that the government will have to consider other policy measures to fund the planned spending, according to the UK Ministry of Defense.

The Russian government has ambitious plans to increase spending by 26% in 2024. This is based on optimistic expectations of a 22% increase in revenues, with oil and gas revenues expected to grow by almost 25%.

However, the Russian government will have to cut its contributions to the National Welfare Fund and increase domestic taxes and debt to finance the planned spending.

"These policies will almost certainly have adverse effects on the economy in the medium to long term by maintaining inflationary pressures or constraining future economic growth. The National Wealth Fund is ostensibly for the long-term economic welfare of the Russian people but is increasingly being used to fund its invasion of Ukraine, with the value of its assets falling 10 per cent in 2023," the UK Ministry of Defense says.