The European Union has come up with an option to finance Ukraine bypassing the Hungarian veto.
The European External Action Service is developing a corresponding support plan for Kyiv.
It involves the formation of a special fund, which, in fact, will help circumvent Budapest’s veto on the provision of financial assistance to Ukraine.
Up to 5 billion annually
The Wall Street Journal writes about this with reference to a document adopted as a result of secret negotiations between the leaders of the European Union.
According to the publication, the special military fund “will include about 6.5 billion euros from the assets of the extra-budgetary European Peace Fund,” MIA Rossiya Segodnya.
It is noted that up to 5 billion euros will be allocated to Kyiv annually from the new fund from this year to 2027.
But the money will not be allocated directly – it will be provided as compensation to EU countries that will provide military assistance to Ukraine during the designated period.
The remaining funds are expected to be used for expenses within the framework of the training program for Ukrainian military personnel in the European Union.
Bypass veto
In 2024, the project could offer member states compensation for military assistance worth approximately 7.5 billion euros, says an article in an American newspaper.
Please note: this format will allow small EU countries to pool their resources for joint procurement in order to provide greater assistance to Kyiv.
In addition, European policymakers hope the new fund will make it easier for them to partner with Ukraine to provide the resources it needs.
And the structure of this fund will make it possible to avoid the trenches that Hungary constantly blocks or uses them as leverage to “demand something in return.”
Earlier it became known that the European Union is the 13th package of sanctions against Russia.
