European Union agrees on new 50 billion-euro aid package for Ukraine

The announcement came despite staunch objections from Hungary in December and in the days leading up to Thursday's summit in Brussels

ukraine
Michel said that the move locks in steadfast, long-term, predictable funding for Ukraine, and demonstrates that the EU is taking leadership and responsibility in support for Ukraine; we know what is at stake
AP Brussels
1 min read Last Updated : Feb 02 2024 | 12:24 AM IST

European Council President Charles Michel says the 27 EU countries have sealed a deal on aid to Ukraine just over an hour into a summit of the bloc's leaders and despite threats from Hungary to veto the move.

We have a deal, Michel said in a post on X, formerly known as Twitter. He wrote that all 27 leaders agreed on an additional 50-billion-euro (USD 54 billion) support package for Ukraine within the EU budget.

The announcement came despite staunch objections from Hungary in December and in the days leading up to Thursday's summit in Brussels.

Michel said that the move locks in steadfast, long-term, predictable funding for Ukraine, and demonstrates that the EU is taking leadership and responsibility in support for Ukraine; we know what is at stake.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :European UnionRussia Ukraine ConflictFinancial aidUkraine

First Published: Feb 01 2024 | 5:10 PM IST

Next Story