The Strategist

All 27 EU leaders agree to allocate €50bn to Ukraine

02/02/2024 - 02:34

President of the European Council Charles Michel stated on Thursday that EU leaders decided to set aside €50 billion from the EU budget for financial assistance to Ukraine.

Martin Schulz
Martin Schulz
"All 27 leaders agreed on the allocation of an additional aid package of 50 billion euros for Ukraine from the European budget," he posted on the X social network. 

An extraordinary summit on the EU budget was held in Brussels on Thursday.

After the leaders of state and government of the EU failed to reach a consensus on changes to the budget for four years during the scheduled European Union summit on December 14–15, it was decided to call a special meeting of the European Council. Hungary's veto blocked the terms under which €50 billion in financial assistance were to be given to Ukraine as part of a €64.6 billion euro budget increase.

Gergely Gulyás, the head of the Hungarian prime minister's office, stated on Thursday morning that Budapest did not believe the EU summit on Ukraine aid would be successful because, in his view, Brussels was attempting to blackmail the Hungarian side instead.