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Michel announces new EU summit to discuss €50 billion for Ukraine

Michel announces new EU summit to discuss €50 billion for Ukraine Illustrative photo (Photo: Getty Images)
Author: Daria Shekina

The leaders of the European Union countries will hold a summit to discuss granting Ukraine 50 billion euros. It will take place at the beginning of 2024, according to the President of the European Council, Charles Michel, reported by The Guardian and Sky News.

Michel notes that 26 out of 27 countries have already supported the review of the EU budget until 2027, which includes the allocation of 50 billion euros to Ukraine. At the beginning of the following year, a special summit will be held to discuss this matter again.

According to him, the proposal is very well balanced, as it demonstrates a commitment to supporting Ukraine while considering priorities such as migration and defense.

"I am confident and optimistic that we will be in a position to fulfil our promise to support Ukraine with financial means," Michel adds.

50 billion euros for Ukraine

Previously, the European Commission proposed allocating 50 billion euros to Ukraine by 2027. Yesterday, on December 14, the leaders of the EU countries discussed this initiative during the European Council summit.

As a result, Hungary vetoed the decision, while the remaining 26 countries supported it. Hungarian Prime Minister Viktor Orbán stated that he would not approve such a decision until the bloc disburses all funds earmarked for his country that had been frozen.

However, Ukraine's Ministry of Foreign Affairs stated that the decision regarding the 50 billion euros has already been fundamentally accepted, and in January, the completion of all legal procedures is expected to take place.