EU Mulls €20 Billion Military Aid Fund for Ukraine Amid Hungary's Opposition
By Emily Turner
Published January 22, 2024
The European Union is reportedly exploring a plan to increase military support to Ukraine amidst opposition from Hungary. The proposed plan involves establishing a €20 billion fund to reimburse member states for providing arms, ammunition, drones, and missiles to Kiev. This initiative comes in the wake of Hungary's blockage of the EU's planned €50 billion aid package for Ukraine.
Fund Details and Potential Benefits
According to a confidential draft obtained by the Wall Street Journal, the fund would absorb €6.5 billion from the European Peace Facility (EPF) and receive up to €5 billion annually between 2024 and 2027. The excess funds would be utilized for the EU's military training program for Kiev, potentially providing member states with compensation totaling approximately €7.5 billion in the current year alone. While unanimous backing from EU members is required, the plan aims to enable smaller countries to combine resources in aiding Ukraine and eliminate hurdles faced in delivering regular aid tranches, particularly due to Hungary's opposition.
Upcoming Discussions and Background
Formal deliberations on the proposed fund are anticipated to commence in the upcoming week, with the matter expected to feature prominently on the agenda of the EU summit on February 1. This move by the EU follows the veto by Hungarian Prime Minister Viktor Orban of a €50 billion aid package for Ukraine, reflecting the ongoing disagreement between Hungary and the EU regarding assistance and rule-of-law issues. Notably, Russia has cautioned against Western arms shipments to Kiev, asserting that such actions would only prolong the conflict and directly involve the West in the hostilities.
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