Not in January. Summit date for EU approval of €50 bln for Ukraine revealed
Photo: President of the European Council, Charles Michel (Thierry Monasse/Getty Images)
The European Union summit to approve the allocation of €50 billion in aid to Ukraine will take place on February 1 of the next year, according to the President of the European Council, Charles Michel.
In particular, during the EU summit, they aim to finalize the multi-year budget to support Ukraine until 2027.
The proposed allocation is €50 billion.
Michel clarified that a bit more time is needed to convince Hungary for this approval.
EU assistance to Ukraine
The European Commission proposed allocating €50 billion to Ukraine over the next five years, and this decision must be approved by all EU member countries. However, Hungarian Prime Minister Viktor Orban vetoed it at the summit in Brussels.
Before this, Hungary threatened not to approve the allocation of 50 billion euros to Ukraine. They also demanded that the EU unfreeze €30 billion intended for Hungary. The European Commission partially met the demand and unfroze €10 billion. To unlock the remaining funds, Hungary needs to fulfill certain conditions.
Additionally, EU leaders reached "broad agreement" on the budget for the multi-year financial program.
Today, the Financial Times reported that EU member states are considering the possibility of depriving Hungary of its voting rights to approve the agreement on providing a €50 billion aid package to Ukraine for the years 2024-2027.
