EU agrees on €50 billion aid for Ukraine

The 27 EU countries have collectively agreed at a summit to allocate 50 billion euros to aid Ukraine, revealed EU President Charles Michel on social media. The deal, which came unexpectedly quickly amid concerns over Hungary’s Prime Minister Viktor Orbán’s veto threat, ensures sustained and predictable support for Ukraine. Orbán had initially wanted the aid to be reassessed annually. Ukrainian President Volodymyr Zelenskyj welcomed the deal, emphasizing its importance for Ukraine’s long-term economic stability, calling it as crucial as military aid and sanctions pressuring Russia. The unanimous decision underscores the EU’s strong unity, he says. This financial assistance will be distributed over the next four years, ensuring the funding for essential services like the operation of schools and hospitals during the war with Russia.