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EU Council adopts 18 billion euro assistance for Ukraine despite blockage by Hungary

by The Kyiv Independent news desk December 10, 2022 9:22 PM 1 min read
This audio is created with AI assistance

The EU Council said on Dec. 10 that it reached an agreement on a "legislative package that will enable the EU to help Ukraine financially throughout 2023 with 18 billion euros.” The proposal will be submitted to the European Parliament “for possible adoption” next week.

To assist Ukraine with paying for essential public services, maintaining macroeconomic stability, and restoring critical infrastructure destroyed by Russian attacks, the European Commission proposed an 18 billion euro support package earlier on Nov. 9.

Hungary didn't support the aid package at an EU ambassadors' meeting on the same day, according to three officials cited by Politico media outlet.

On Dec. 6,  Hungarian Finance Minister Mihaly Varga said that “Hungary doesn't support changes to the financial regulation.” The EU can only allocate the money with the backing of all 27 union countries, as the budget rules require unanimity.

However, Czech Finance Minister and EU Economic and Financial Affairs Council President (ECOFIN) Zbynek Stanjura said that the EU was looking for another mechanism to start allocating funds to Ukraine.

“The legislation which we adopted today means that Ukraine can count on regular financial help from the EU throughout 2023,” Stanjura said on Dec. 10, as quoted by the Council of EU official website.

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