Home Finance Ukraine is running out of financial aid after the US pause and the Hungarian EU veto – Putin is ready to crush it

Ukraine is running out of financial aid after the US pause and the Hungarian EU veto – Putin is ready to crush it

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Nevertheless, the EU is encouraging Ukraine, Moldova and Georgia to join its ranks, attempting to put an end to Putin’s expansionist plans in the latter two.

The European Union decided on Thursday to open accession negotiations with Ukraine and Moldova.

However, a few hours later, Viktor Orban used his veto to block a 50 billion euro aid program for war-ravaged Kiev. International media highlight this, citing:

“The special fund, which combines 33 billion euros in low-interest loans and 17 billion euros in grants, is part of a broader overhaul of the bloc’s common budget that has pitted member states against each other. to others as they competed for new funds, redistributions and savings.

EU decision on financial aid to Ukraine and Hungary’s veto

After a lengthy debate lasting Friday morning, heads of state and government reached a preliminary agreement on the Ukraine Facility, a special €50 billion fund intended to help Kyiv keep its economy going. works between 2024 and 2027.

But Hungarian Prime Minister Viktor Orbán followed through on his threat and used his veto to derail the consensus that had been forged. Budgetary issues requiring unanimity made it impossible for leaders to move forward on the 50 billion euro fund.

The issue will be discussed again in January, European Council President Charles Michel said, hoping to gather the necessary 27 votes.

Sweden should also consult its national parliament before giving its official blessing.

In January 2024, will Hungary try BY-PASS if it does not agree to it?

Michel, however, tried to downplay Hungary’s opposition to the package, announcing that “in a few hours we managed to make a balanced proposal with broad political support.”

“It shows that we are serious, it shows that we want to be credible and that we want to do everything to protect and defend these fundamental interests and bring more stability. We need stability and especially in these very complex geopolitical times,” he said. he declared.

The Council president declined to say whether his services might consider moving to a support plan backed by all 26 member states without Hungary, telling journalists around 03:00 CET: “I don’t want to say too much about the proposal for the next We have several tools in our hands to ensure we deliver on our policy promises.

American senators’ refusal of additional aid to Ukraine

The development comes just days after Ukrainian President Volodymyr Zelensky visited Washington in an unsuccessful attempt to persuade US senators to approve additional aid to his country, mainly for the purchase of weapons from US manufacturers. .

kyiv has warned that it faces a budget deficit of 40 billion euros next year, a hole that only Western countries can fill.

The EU and the US should bear most of the responsibility.

But recent developments on both sides of the Atlantic have significantly increased the risks of a sudden cutoff in foreign aid.

“I would like to send a positive and reassuring message, because we have tools to ensure that we are reliable and that Ukrainians can count on our support,” Michel said when asked about this possibility.

“A message of hope”

Despite the financial aid fiasco, the summit made a major breakthrough when leaders agreed to open accession negotiations with Ukraine and Moldova, two countries that submitted applications at the start of the war.

The green light is seen as a harsh rebuke to Vladimir Putin’s vigorous efforts to exert control over Russia’s immediate neighborhood.

Member states also granted Georgia candidate status, sparking celebrations in the streets of Tbilisi, the country’s capital.

In addition, the bloc will open negotiations with Bosnia and Herzegovina “when the necessary degree of compliance with the membership criteria has been achieved.” The progress made by this Balkan country will be assessed in a progress report to be presented in March.

“It’s a very strong political message, it’s a very strong political decision,” President Michel told journalists after the blessing was made official.

“And today and this evening, I think that, for the Ukrainian people, we stand with them and this decision taken by the member states is extremely important for the credibility of the European Union.”

“It was important that no member state resisted the decision and that is why we were able to make this announcement this evening,” added Michel.

After being declared a candidate country last June, Ukraine undertook seven reforms necessary for the opening of negotiations. Brussels said the country had completed four of seven reforms, with work underway in the areas of anti-corruption, deoligarchy and minority rights.

This progress, estimated at “well over 90%,” was declared sufficient to allow Kiev to enter the next phase, which Budapest strongly contested.

German Chancellor Olaf Scholz welcomes Ukraine’s accession progress

The news from Brussels quickly prompted a series of social media posts celebrating what many leaders described as a “historic day.”

Ukraine and Moldova begin EU accession negotiations

“This is a victory for Ukraine. A victory for all of Europe. A victory that motivates, inspires and strengthens,” wrote President Zelensky, who delivered a video message at the summit urging leaders to take a positive decision.

“History is made by those who never tire of fighting for freedom,” he added.

“Moldova today turns a new page with the green light from the EU for accession negotiations. Today we feel the warm embrace of Europe. Thank you for your support and trust in our journey” , declared Moldovan President Maya Sandu. “We are determined to do the hard work required to become a member of the EU. Moldova is ready to take on the challenge.”

Georgia obtains EU candidate country status

Georgian President Salomé Zourabichvili spoke of a “monumental step for Georgia” and the rest of the continent. “The unwavering will of the Georgian people was expressed, leading to the well-deserved acquisition of candidate status,” Zourabichvili wrote. “The reunification of Georgia with its European family is an irreversible prospect!”

Ursula von der Leyen, president of the European Commission and one of kyiv’s most ardent supporters, welcomed “a strategic decision and a day that will remain engraved” in the history of the bloc. “We are proud to have kept our promises and we are happy for our partners,” von der Leyen said.

EU’s future engagement with Moldova and Georgia a thorn in Putin’s plans

It follows from the above that the EU is putting the brakes on Putin’s plans to expand the war to Moldova and Georgia, although, in our opinion, if the US and the EU do not strengthen the Ukraine will collapse militarily, which will lead to military collapse. In this case, the veils of Russian aggression would be shattered, with the Russian president prolonging the war, regardless of reactions and consequences.

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