EU-UKRAINE:  Balancing Values and Economic Realities

By Nina Bachkatov

The EU summit on 1st February was anticipated to be challenging, with negotiations expected to extend until the last minute to mend the fallout from the inconclusive December summit. The primary agenda includes reaching an agreement on a revised 2021-2027 EU budget to support recovery, encompassing a 50-billion-euro four-year aid package to Ukraine, distinct from other forms of aid. The first requires unanimity among the 27 member states, while the second may face opposition from Hungary but could be legally maneuvered. Following the failure of the December EU summit and the postponement of an anticipated $61 billion military aid by the American Congress, President Zelensky initiated a diplomatic offensive in Europe and beyond, emphasizing the global significance of countering Russia in Ukraine. So far, the “allies” have contributed a total of $246 billion to Ukraine, covering arms, financial aid, and support for social needs on the ground, including refugees.

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