Europe Von der Leyen wants billions in new financial aid for Ukraine

EU Commission President Ursula von der Leyen wants to provide Ukraine with new EU financial aid of up to 35 billion euros, despite opposition from Hungary. She made the announcement during a visit to Ukrainian President Volodymyr Selenskyj in Kiev on Platform X. The money is to be part of the support package planned by the G7 group, which is to total up to 50 billion dollars. Von der Leyen's proposal still needs the approval of the majority of EU states, among others.

"Due to the relentless Russian attacks, Ukraine is dependent on the continued support of the EU," wrote von der Leyen. The money is another important contribution from the EU to the reconstruction of Ukraine.

The seven major Western industrialized nations (G7) had agreed new financial aid for Kiev at their summit in June. The loan of 50 billion dollars is to be secured by interest income from frozen Russian assets. Representatives of the EU take part in G7 meetings.

The financial aid is to be divided between the countries and the EU. However, the USA only wants to participate if the Russian money remains permanently frozen. Hungary is opposed to this. According to EU rules, freezing the money requires unanimity between the 27 EU countries every six months.

Von der Leyen's proposal now provides for a way forward that does not require unanimity. According to this, the EU Commission will grant Ukraine the 35 billion financial aid itself. According to the Commission, this requires the approval of the European Parliament and a qualified majority of EU member states. This means that 15 countries representing at least 65 percent of the total EU population must agree.

Orban's controversial relations with Moscow

The government of Hungarian Prime Minister Viktor Orban maintains good relations with Russia. Since the beginning of the war in Ukraine, Orban has tried to prevent Kiev's EU accession negotiations, delayed Western sanctions and blocked financial and military aid. He accused the EU of bringing the conflict to Europe by providing aid to Ukraine. In his opinion, Ukraine cannot defeat Russia.

There were long discussions within the EU about what should be done with the Russian assets. In the spring, it was agreed that 90 percent of the usable interest income from the custody of Russian central bank funds would be channeled into the EU fund for financing military equipment and training. The remaining ten percent will be used for direct financial aid.

SDA