Official Brussels plans to withdraw from the use of the European Peace Fund as the main instrument for financing military support to Ukraine. In this way, the EU can avoid permanent vetoes from Viktor Orban's team.
Points of attention
- Most of the funds will be directed to programs financed from the EU budget, and only 5% - from the European Peace Fund.
- The European Union plans to provide Ukraine with additional financial assistance until the end of 2024.
The European Union wants to change the model of financing aid to Ukraine
According to journalists, already on October 9, the ambassadors of the European Union intend to reach a political agreement on the terms of providing Ukraine with 50 billion euros of aid using the proceeds from frozen Russian assets.
What is important to understand is that we are talking about a loan from the Group of Seven, within which official Brussels plans to provide up to 35 billion euros.
The draft decision provides that a significant part of the funds will go to programs financed from the EU budget, and only 5% will go to the European Peace Fund, from which the European Union will compensate member countries for the cost of military aid given to Ukraine. A majority will be enough for a decision, so Hungary will not be able to preserve it.
According to journalists, the huge number of obstacles on the part of the Hungarian leader Viktor Orban's team is one of the reasons why the European Union wants to abandon the use of the European Peace Fund as the main instrument of military support for Ukraine.
Ukraine can receive additional financial assistance
The publication draws attention to the fact that until now about 90% of the funds from the revenues from the frozen assets of the Russian central bank were directed to support Ukraine through the Peace Fund.
Official Brussels made such a decision in June, bypassing Hungary's resistance, and within a month transferred the first tranche there.
The head of European diplomacy, Josep Borrell, officially confirmed that, in addition to the first tranche, they want to allocate another 1 billion euros to support Ukraine in the same way by the end of the year.
According to him, they will be provided to Ukraine for three purposes — air defense, ammunition, support of Ukrainian industry.
We understand that from a legal point of view, because one country did not participate in the decision about the use of the assets, it cannot participate in the decision-making about what purposes they should be directed to, he said at the time.
