The leaders of the European Union have reached an agreement on a €50 billion aid package for Ukraine to consolidate Kyiv’s stand against the Russian invasion. The aid package was finalized for Ukraine by the parliament on Thursday following an initial blockade by Hungarian Prime Minister Viktor Orban, who was considered a close ally of Russian President Vladimir Putin.
The first tranche of European Union aid for Ukraine is expected to be delivered in March as the Union prepares to halt further Russian aggression in Kyiv. The Ukrainian aid has been a subject of debate in the EU parliament as PM Orban initially vetoed the package, questioning its four-year commitment to providing funds for Kyiv.
Orban had suggested that the European Union’s policies towards the ongoing war between Russia and Ukraine should be reevaluated, posing a possible peace truce between the conflicting parties. The deal was finalized for Ukraine amidst pressure of suspension for Hungary by members of the parliament.
Reacting to the latest development on the aid package for Ukraine, EU President Ursula von der Leyen described it as a good development for Europe, ensuring a stable peace on the continent.
Ukrainian President Volodymyr Zelenskyy expressed gratitude to the European Parliament, adding that the package would strengthen the country’s economic and financial stability.