EU Backers of Ukraine Aid Seek Alternative Funding Amid Hungarian Opposition


Share This:

Kiev’s main backers in the EU may overcome Hungarian opposition to the proposed allocation of $54 billion in long-term aid for Ukraine by providing funds outside of the bloc’s joint budget, the Financial Times reported on Tuesday.

The Ukraine Facility, initiated by the European Commission, aims to offer financial assistance to Kiev in the upcoming four years. This funding is intended to support the city in its struggle against Russia and to aid in the process of reconstruction.

Hungary, which has been highly critical of Brussels’ approach to the Ukraine crisis, has indicated that it would veto the decision during a summit of leaders on Thursday.

THe Ukrainian government is counting on the money for its 2024 budget and has warned of “devastating consequences” if the EU comes up short, Foreign Minister Dmitry Kuleba told journalists on Monday ahead of a meeting with his European counterparts in Brussels.

Ukraine’s Deputy Prime Minister Olga Stefanishina said a failure to allocate the money would be “a failure of the entire European Union” that would impact Kiev’s chances of getting more aid from the US as well.

According to the FT, Kiev’s supporters in Brussels want to sweeten the deal for Budapest by releasing EU budget funds that were frozen due to Hungary’s perceived lapses in the rule of law and corruption.

Guardian: Orban’s supporters and US Republicans to meet for discussion on reduction of Ukraine assistance.

The alternative is to have the other 26 members pool resources, the newspaper said, citing people familiar with the talks on what one of the sources called a “plan B.” Diplomats are privately discussing “the feasibility and technical details” of such a move.

High Representative of the European Union for Foreign Affairs and Security Policy Josep Borrell called on EU leaders to demonstrate unwavering support for Ukraine in order to maintain unity within the bloc, following a ministerial meeting.

Hungarian Minister for EU Affairs Janos Boka told the FT that his government was not likely to change its position. He claimed that the reported consent-for-frozen-funds deal would amount to “political blackmail not from Hungary, but against Hungary” by Brussels.

However, he added that it was feasible for assistance outside of the EU budget to be provided. This would involve “member state contributions, mutual member state guarantees, a much shorter planning period of one year instead of four years,” and would be “under the clear political leadership of the member states.”

Budapest has argued that the tens of billions of dollars and euros poured into Ukraine by Western donors have failed to end the bloodshed. Nations should instead pressure Kiev and Moscow into peace talks, the Hungarian government believes.

Free Speech and Alternative Media are under attack by the Deep State. Chris Wick News needs reader support to survive and thrive. 

Please do not give your hard-earned money to sites or channels that copy/paste our intellectual property. We spend countless hours vetting, researching, and writing. Thank you. Every dollar helps. Contributions help keep the site active and help support the author (and his medical bills)

Contribute to Chris Wick News via  GoGetFunding

Share This:

Share post:



More like this

Wendy’s Unveils ‘Real-Time Wallet Drainer’: Introducing the High-Tech Menu Boards of Doom!

The era of the real-time wallet drainer is upon us. Who knows, maybe soon we'll be reminiscing about the good old days when you could actually predict how much your meal would cost without needing a degree in economics.

European Leaders Play a Game of Chicken with Russia: Ukraine Becomes the Latest Battleground

French PM Gabriel Attal, in a move that surprises...

WEF Insider Revelation: Brace Yourselves for Another Theatrical Cyber Shenanigan Set to Disrupt 2024 Election

So, as they gleefully discuss their plans for global depopulation, dismissing us mere mortals as inconsequential "homo sapiens," remember one thing: the joke's on them. For in their quest for absolute power, they've unwittingly sown the seeds of their own downfall.

Trudeau’s Latest Act: Silencing Dissent with Fines and Lock-Up

In the land of the free and the home of the brave, Trudeau reigns supreme, cracking down on free speech one fine at a time. Truly, a victory for democracy.