Zelenskyy and von der Leyen hold tense talks over Ukraine aid — Bloomberg
Photo: Ursula von der Leyen and Volodymyr Zelenskyy (Getty Images)
The European Union has set forth a series of specific requirements for Ukraine; once these are met, Kyiv can expect increased aid, according to Bloomberg.
EU authorities have made it clear to Ukraine that any further increase in funding will depend on several factors, namely:
- Progress in adopting legislation to combat the shadow economy
- Increasing tax revenues
- Harmonizing Ukrainian regulations with EU legislation.
Insiders also claim that European Commission President Ursula von der Leyen held a tense meeting with Ukrainian President Volodymyr Zelenskyy on the sidelines of the UN General Assembly in New York.
The Ukrainian leader expressed concern about a possible escalation of Russian aggression this winter. In addition, Kyiv was dissatisfied with the EU's decision to remove two Russian oligarchs from the sanctions list as part of the agreement to extend the restrictions.
After the meeting, von der Leyen stated that further defense support for Ukraine would be increased, and progress on reforms would open the door to additional budgetary assistance.
According to her, Ukraine could still receive 37 billion euros this calendar year.
Ukraine has appealed to its partners to help cover a budget deficit of approximately 26 billion euros ($30 billion), which arose due to unforeseen expenses. In addition, Kyiv called on the EU to expedite a 90-billion-euro loan provision.
At the same time, the EU has questioned some of Ukraine's calculations and suggested that other partners, including Canada, Norway, and Japan, join in covering the additional financial needs.
Zelenskyy tells reporters that representatives of the parties plan to meet again in about seven to ten days to continue negotiations. The President expresses hope that a solution can be found during that time.
He also states that European partners informed the Ukrainian side for the first time that they saw growing risks of aggressive actions by Russia against other European countries.
Support for Ukraine for 2028–2034 is being prepared in the EU budget.
The IMF will help secure funding to ensure Ukraine's financial stability next year.
