NewsOrban signals compromise on $55.8bn EU aid to Ukraine, demands annual reviews

Orban signals compromise on $55.8bn EU aid to Ukraine, demands annual reviews

Viktor Urban makes concessions towards Ukraine (Photo by Jean Catuffe/Getty Images)
Viktor Urban makes concessions towards Ukraine (Photo by Jean Catuffe/Getty Images)
Images source: © Getty Images | Jean Catuffe
12:23 PM EST, January 9, 2024

"In practical terms, this could give Orban a chance to block EU funding to Ukraine yearly or to secure concessions from Brussels in exchange for the suspension of the veto," Politico addressed, based on discussions with three EU diplomats.

In mid-December, the European Council opted to commence accession negotiations with Ukraine. However, shortly before the vote, Orban left the meeting room. Hungary then hindered the approval of the financial aid for Ukraine, which is approximately 55.83 billion dollars.

The ultimatum

Budapest rolled out a plan for annual financial checks, among other features, in a letter dispatched to the Belgian presidency. The plan entails granting Ukraine roughly 13.96 billion dollars annually through grants and loans. This totals 55.83 billion dollars over four years, as suggested by the European Commission.

"Despite it is not the first time Hungary has forwarded this idea, it signifies a considerable shift from Orban's rhetoric in recent weeks when the Hungarian Prime Minister was against any grants for Ukraine from the EU budget," Politico added.

As put by one of the EU diplomats quoted by the website, the solution involving annual reviews of decisions may not offer Ukraine a sense of predictability.

Member states will make a decision on financial aid for Kiev during an extraordinary EU summit set for February 1st.

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