EU to hold summit in February to approve €50 bln aid for Ukraine

The summit of the European Union to approve the allocation of assistance to Ukraine in the amount of 50 billion euros will be held on February 1 next year.

The President of the European Council, Charles Michel, announced this.

The February summit will deal with financial issues: it will consider amendments to the EU budget for 2024-2027, which provide for the creation of a Ukrainian fund in the amount of 50 billion euros. Michel clarified that for this, some more time is needed to convince Hungary.

"The signal [to Ukraine] regarding the expansion [of the European Union] has been given. Now, we must work to ensure that the promised finances are released. I would like to announce that a special summit will be held on February 1, where the financial issue will be raised," said Charles Michel.

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On December 14, the leaders of the countries of the European Union decided to start the process of negotiations on the accession of Ukraine and Moldova to the EU.

At the same time, as a result of the discussion, the heads of state and government were unable to reach a consensus and adopt amendments to the multi-year EU budget for 2024-2027, which included, in particular, the creation of a Ukrainian fund in the amount of 50 billion euros for budget support of Ukraine in wartime and the creation conditions for its post-war recovery. The European leaders postponed the consideration of this issue until the beginning of next year.

As a result, Hungary vetoed the decision; the remaining 26 countries supported it. Hungarian Prime Minister Viktor Orbán said he would not approve such a decision until the bloc pays all the funds earmarked for his country, which have been frozen.

At the same time, the Ministry of Foreign Affairs of Ukraine stated that the decision on 50 billion euros has already been made in principle. And in January, the completion of all legal procedures should take place.

To approve the agreement on providing an aid package to Ukraine for 50 billion euros in 2024-2027, the member states of the European Union are considering depriving Hungary of the right to vote.