The agreement came earlier than expected, overcoming previous opposition from Hungary's Viktor Orban.

All 27 EU leaders have agreed a €50bn (£42bn; $54bn) aid package for Ukraine, after Hungary stopped blocking the deal.

Ukrainian President Volodymyr Zelensky welcomed the new funding, saying it would strengthen the country’s economic and financial stability.

Ukraine’s economic ministry said it expects the first tranche in March.

There had been fears Hungary’s PM would again block the package as he did at a European summit in December.

Viktor Orban, Russian President Vladimir Putin’s closest ally in the EU, had said he wanted to force a rethink of the bloc’s policy towards Ukraine and questioned the idea of committing funds for Kyiv for the next four years.

The new funding promise comes as aid from the US - the largest provider of military support for Kyiv - is being held up by Congress.

“I think it will be an encouragement for the United States also to do their fair share,” European Commission President Ursula von der Leyen said.

The agreement was announced less than two hours after the summit started, surprising many observers who had expected talks to go on much longer due to the depth of disagreement between Mr Orban and the other EU leaders.

On the streets of Kyiv, people welcomed the news. “It’s great. All this support, money, ammunition, humanitarian help are all important for our country, and we thank all the world for supporting us,” one man told the BBC.

However, this EU funding package is not for the frontline - it’s for life in the rear. War is an expensive endeavour, and budget revenue in Ukraine is being swallowed up funding the fighting.

  • Deceptichum@kbin.social
    114·
    9 months ago

    That’s basically half of what Apple makes a year.

    To think one company could fund Ukraines war, yet the entire EU struggles to come up with this much?

    • AlteredStateBlob@kbin.social
      29·
      9 months ago

      They did not struggle to come up with it. They struggled to get a puppet of Putin to allow this funding to be passed where it needs to go. Victor orban blocked the shit out of it.

  • Nobody@lemmy.worldEnglish
    4·
    9 months ago

    Europe to US: We need to have a difficult talk about the alliance covering its financial obligations.

  • LarmyOfLone@lemm.eeEnglish
    145·
    9 months ago

    There goes my retirement lol. Another massive wealth transfer to the super rich. It will all go to weapons, will go to banks when the Ukrainians have to pay it back, will go to big corporations when much of Ukraine becomes privatized. More austerity and more inflation for us.

    Basically Crimea is the most expensive real estate debacle ever that lead to the biggest wealth transfer. I think they call it disaster capitalism. Never waste a good crisis.

    Fuck Putin, fuck Ukraine, Fuck NATO and the US and fuck the EU, and fuck Stoltenberg in particular. And fuck reddit and fuck all of you for cheering on this senseless destruction of life and prosperity.

    • Pup Biru@aussie.zoneEnglish
      10·
      9 months ago

      afaik this is specifically not for weapons: it’s for helping to run the government

    • gmtom@lemmy.worldEnglish
      6·
      9 months ago

      This is the most braindead comment I’ve read in a while on here.

      1. This isn’t a lot of money for the EU.

      2. This will in no way shape or form affect your retirement.

      3. This is financial aid primarily for making sure Ukraine is able to continue to pay civil servants and other government employees, not for buying weapons.

      4. As above, this is to pay ordinary people, not the super richm

      5. I could be wrong on this one but I don’t think it’s expected to be paid back.