EU rejects Ukraine's €220 million request to help farmers hit by Russian attacks
The European Commission rejected Ukraine's request for financial aid (illustrative photo: Getty Images)
The European Commission rejected Ukraine's request for €220 million in aid for farmers affected by Russian strikes on port infrastructure, Ukraine's Minister of Agrarian Policy and Food, Taras Vysotskyi, said in an interview with Bloomberg.
Despite the European Commission’s rejection, the agricultural sector will still receive the support it needs through a $250 million low-interest loan from the World Bank.
The funding will help stabilize the sector temporarily, but the minister stressed the need to find long-term solutions.
"It's going to more or less provide us with a possibility to survive until the new year. But now we already have to think about what's going to happen from the spring after the new year, because the situation keeps being critical," Vysotskyi said.
He noted that in August, Ukraine asked the European Union to increase duty-free quotas for bioethanol and sugar for 2027, as it seeks to increase supplies of products needed in the EU.
If that goes smoothly, Ukraine plans to raise the issue of expanding export quotas for other agricultural products as well.
Vysotskyi also said that Ukraine does not expect a maritime ceasefire with Russia, as Moscow has rejected all ceasefire proposals.
Prime Minister Serhii Koretskyi said that Ukraine will spend at least $155 billion on the war with Russia this year. He also said the shortfall in the defense budget stands at $27 billion.
