BRUSSELS European Union leaders unanimously agreed on Feb 1 to extend €50 billion (S$72 billion) in aid to Ukraine, the chairman of the summit said, overcoming weeks of resistance from Hungary and winning praise from Kyiv.
Before the summit started, EU leaders had piled pressure on Hungary to lift its block, telling Hungarian Prime Minister Viktor Orban to pick sides in what several saw as an existential challenge posed by Russia's war in Ukraine, the biggest conflict in Europe since World War II.
"We have a deal. Unity," said European Council president Charles Michel in a post on X. "All 27 leaders agreed on an additional €50 billion support package for Ukraine within the EU budget." Ukrainian President Volodymyr Zelensky welcomed the agreement, saying the aid would strengthen the long-term economic and financial stability of his country as the war with Russia approaches its third year.
Ukraine's dollar bonds gained on the news. Kyiv, which relies heavily on Western aid as it fights Moscow, said it expected to receive the first tranche of €4.5 billion from the EU in March.
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