Yuri Zoria

Bloomberg: Germany expects EU to provide Ukraine aid even without Hungary approval

https://euromaidanpress.com/2023/12/29/bloomberg-germany-expects-eu-to-provide-ukraine-aid-even-without-hungary-approval/

Bloomberg: Germany expects EU to provide Ukraine aid even without Hungary approval

Germany expresses confidence EU will discover method to deliver $55 billion Ukraine aid bypassing Hungary veto of package.

byYuri Zoria

29/12/2023

2 minute read

Ukrainian flags outside the EU Parliament building in Brussels. Credit: European Interest

Germany anticipates that European Union member states will proceed with their next Ukraine support package, even if Hungary persists in blocking a unanimous decision, Bloomberg reports.

The EU explores ways to deliver a $55 billion aid package to Ukraine after Hungary’s veto, demanding unanimous approval from member states for the funds’ release. Proposals include member states providing national guarantees to raise funds in financial markets that could circumvent using the EU budget.

FT: EU crafts €20 bn plan B for Ukraine aid to bypass Hungary veto

During a regular government news conference in Berlin, Germany’s Foreign Ministry spokesman Christian Wagner announced that Chancellor Olaf Scholz’s coalition government is committing €8 billion in military support for Ukraine in 2024, while emphasizing Berlin’s strong advocacy for the approval of the larger EU aid package worth €50 billion in the coming year.

“The EU-26 will, of course, also be able to act. But I don’t want to speculate now on how such support could be organized. This also requires further consultation in Brussels,” Wagner added.

EU leaders will hold an extraordinary summit in February to address the aid impasse.

The aid package aims to assist Ukraine as it faces the two-year mark in its war with Russia. Political disputes have delayed over $110 billion in US and EU assistance.

Bloomberg: Germany expects EU to provide Ukraine aid even without Hungary approval

Bloomberg: Germany expects EU to provide Ukraine aid even without Hungary approval

Loading...