After Hungarian Prime Minister Viktor Orban succumbed to pressure from other leaders and removed his veto on aid to Ukraine, the EU reached an agreement on a 50 billion euro financial support package for Ukraine. The agreement was reached at the beginning of the emergency summit of the European Union, after countries exerted unprecedented pressure on the most pro-Russian Orban. Orban vetoed the aid package last December.
The President of the European Council, Charles Michel, said:"We made an agreement. "
* We have warned of irreparable rupture within the bloc if the Hungarian leadership insists on vetoing the €50 billion package, which is essential for Ukraine's financial stability.
Hungary's right-wing and pro-Russian leader, Viktor Orban, has been taking a hard line in recent weeks to refuse concessions, and the EU has revealed that they are testing different approaches, from offering financial incentives to cutting off the economic consequences of EU funding altogether, and some countries are beginning to discuss the possibility of stripping Budapest of its voting rights.
Michelle said Thursday's compromise"Firm, long-term and beyond, funds have been locked in for Ukraine"。
The agreement includes a clause for EU leaders to hold an annual debate on the implementation of the aid package, with the possibility of reviewing it within two years, if all member states agree.
An EU high-level ** said:"If we can't do that, it's really risky for us. It will be a path to darkness"。
The European Parliament must now sign off on an increase in the EU budget, including 50 billion euros for Ukraine. The vote will take place at the end of February, which means that the money will not begin to flow to Ukraine until March at the earliest.
On Thursday morning, Michel, European Commission President Ursula von der Leyen, and three of the group's most energetic national leaders, German Chancellor Olaf Scholz, France's Emmanuel Macron, and Italian Prime Minister Meloni, met with Orban and asked him not to veto again, tantamount to letting him choose sides in the existential challenge posed by Russia's war in Ukraine, and finally reached a compromise.
According to those involved in the talks, the agreement was then presented to the other 23 leaders of the bloc and agreed to by them.
The statement of an EU diplomat with knowledge of the negotiations is ironic:"Orban came to his senses. "
The Hungarian high-level** claimed that the commitment to discuss aid on a regular basis was a victory. This ** said:"We cannot accept the provision of assistance to Ukraine without any control mechanism. This agreement establishes a control mechanism"。
The European Union's aid package will fund Kyiv for four years to keep Ukraine's economy functioning after Biden** failed to win congressional support for his $60 billion aid package.
Ukraine** has warned that it will face a potential budget crisis if the West stops aid altogether.
Ukraine ** Zelensky said:"The EU's continued financial support for Ukraine will strengthen long-term economic and fiscal stability, no less important than military aid and sanctions pressure on Russia. "
Orban had previously vowed that he would not agree to the funding unless the EU gave him the annual veto. The leaders of the other 26 countries did not agree, and some of them believed that political or economic pressure would force him to change his position.
At the request of the Hungarian leader, the agreement also referred to a 2020 agreement in which the EU said it would treat all member states equally when deciding whether to withhold EU funds.
Currently, more than 20 billion euros of funds earmarked for Hungary by the EU are frozen due to concerns about the rule of law and other issues, and the EU has not committed to releasing the money. Referring to the 2020 agreement, the EU senior ** said:"It's a matter of face. He knows the red line. And responded accordingly"。
After reaching an agreement on budget support, EU leaders next discussed military assistance to Kyiv. Due to disagreements between Germany and other member states, the EU has failed to achieve its goal of sending artillery shells to Ukraine, which has already provided Ukraine with billions of euros in military aid** The future remains uncertain.