Ukraine, EU seeks 50 billion aid deal. Belgium: “We consider a solution at 26, too”

Brussels – Go ahead with support for Ukraine, even if not 27, and so without Hungary. The European Union is determined to reiterate its support for Kyiv in the ongoing war with Russia, and the goal is to secure the €50 billion financial instrument put on the table by the Commission in the proposal for the EU budget review. Since Hungary’s Prime Minister Viktor Orban vetoed the proposed joint budget amendment, which also includes a €50 billion reserve for Ukraine, not much seems to have changed. The Belgian presidency of the EU Council, explained Finance Minister Vincent van Peteghem at the end of the Ecofin proceedings, intends to favour a solution that keeps everyone on board, but not at all costs.

“We are working on the instrument to support Ukraine for a 27-party agreement, but if it is not possible we will work on other solutions,” explains van Peteghem. That’s the ministerial line for leaders, who will meet in Brussels on Feb. 1 just to get back to discussing the common budget because of Hungarian resistance in December. “It is important to support the country and its reconstruction,” adds the Belgian finance minister, who, however, leaves room for the heads of state and government. “We are waiting for the extraordinary summit of the European Council.”

Thus, the main goal remains a unanimous green light. Only if this does not happen will a solution without Hungary be worked out. The EU Commission, through the person responsible for an Economy that Works for People, Valdis Dombrovskis, tries to apply pressure. “We have no time to waste on the approval of the Ukraine facility. We must continue to do what it takes for Ukraine to win the war.”

Opposing voices are rising from the EU Parliament, however. Laura Ferrara (5 Stelle) calls for a change of course. “Do the commission and the council really believe that by continuing to send more weapons to Ukraine Russia will stop? The two years since the Russian invasion prove otherwise.” For the Movimento 5 Stelle, “it is time to change strategy,” meaning “to intensify diplomatic efforts for military de-escalation and start a path to a negotiated settlement of the conflict.”