European Union strikes 50 billion Euro deal for aid to Ukraine

At a crucial conference in Brussels on Thursday, EU leaders brokered a deal with Viktor Orban to provide 50 billion euros in financial help to Ukraine, surprising everyone by quickly overriding his veto.

The European Union deal is a substantial boost for Kyiv as Russia’s war approaches the beginning of its third year, especially in light of uncertainty about future backing from Ukraine’s other key ally, the United States.

“All 27 leaders agreed on an additional €50 billion support package for Ukraine within the EU budget,” European Council president Charles Michel, who chairs the summit, said in a statement on social media platform X.

“This locks in steadfast, long-term, predictable funding for Ukraine.”

After EU leaders suggested that the spending may be reviewed in two years, provided that member states agree to it, Orban abruptly reversed course on the crucial four-year financial deal for Kyiv.

In a video address to the leaders of the European Union, Ukrainian President Volodymyr Zelensky praised the agreement as “a clear signal that Ukraine will withstand and that Europe will withstand”.

President of the European Commission Ursula von der Leyen declared it a “good day for Europe.”

While its outgunned military fight to repel Moscow’s forces, the money will close budgetary gaps for the Ukrainian government and enable it to pay salaries and services.

Allegations had been made against the Hungarian nationalist that he was attempting to extort Brussels into releasing billions of euros in blocked EU money for Budapest by holding Ukraine’s future hostage.

Many EU leaders had criticized Orban for upsetting the bloc once more.

Donald Tusk, the prime minister of Poland, warned of increasing “Orban fatigue” in Brussels, saying the Hungarian leader needed “to decide if he is a part of our community”.

Other leaders had said if Orban did not drop his opposition,they would club together as 26 to keep aid flowing for Ukraine’s government.

But with Kyiv facing possible budget shortfalls by spring, that option would have taken more time.

Amidst growing demonstrations by European farmers, who blocked highways surrounding the meeting with 1,300 tractors in a show of force, set fires, and toppled a local statue, the most recent EU spat occurred.

While Orban was the center of attention in the room, irate farmers outside the adjacent European Parliament set fire to tires in an attempt to ensure that their complaints were taken seriously.

(With agency inputs)