The China Mail - EU strikes 50-bn-euro Ukraine aid deal

USD -
AED 3.673042
AFN 65.000368
ALL 81.264432
AMD 360.340403
ANG 1.789785
AOA 917.000367
ARS 1545.478604
AUD 1.456898
AWG 1.8
AZN 1.70397
BAM 1.75029
BBD 2.013844
BDT 124.537437
BGN 1.747831
BHD 0.37735
BIF 3010
BMD 1
BND 1.281347
BOB 11.99429
BRL 5.509404
BSD 0.999897
BTN 93.858629
BWP 13.774679
BYN 2.994523
BYR 19600
BZD 2.011053
CAD 1.412404
CDF 2320.000362
CHF 0.820325
CLF 0.02484
CLP 977.630396
CNY 6.676504
CNH 6.67316
COP 3251.42
CRC 453.465426
CUC 1
CUP 23.998962
CVE 99.403894
CZK 21.83804
DJF 177.720393
DKK 6.709604
DOP 60.750393
DZD 136.384359
EGP 53.819404
ERN 15
ETB 164.116992
EUR 0.89761
FJD 2.265604
FKP 0.741654
GBP 0.74895
GEL 2.60504
GGP 0.741654
GHS 11.68504
GIP 0.741654
GMD 74.503851
GNF 8857.503848
GTQ 7.64085
GYD 209.627114
HKD 7.839465
HNL 26.875436
HRK 6.76901
HTG 131.052321
HUF 326.120388
IDR 18112.25
ILS 3.18593
IMP 0.741654
INR 94.07415
IQD 1515.921743
IRR 1891353.000352
ISK 122.803814
JEP 0.741654
JMD 158.687685
JOD 0.70904
JPY 158.510385
KES 129.950385
KGS 87.447804
KHR 4080.00035
KMF 442.00035
KPW 899.999961
KRW 1363.703789
KWD 0.31098
KYD 0.833408
KZT 448.201333
LAK 22505.000349
LBP 89550.000349
LKR 332.502562
LRD 170.303772
LSL 16.560381
LTL 2.95274
LVL 0.60489
LYD 6.430381
MAD 9.757504
MDL 17.8737
MGA 4543.684976
MKD 55.266005
MMK 2099.952938
MNT 3601.972253
MOP 8.072028
MRU 40.250379
MUR 47.030378
MVR 15.403739
MWK 1737.000345
MXN 18.63815
MYR 4.059039
MZN 63.903729
NAD 16.560377
NGN 1347.250377
NIO 36.79922
NOK 9.468039
NPR 150.173627
NZD 1.804745
OMR 0.384501
PAB 0.999964
PEN 3.442504
PGK 4.556905
PHP 63.098504
PKR 276.535369
PLN 3.94255
PYG 6249.384815
QAR 3.654602
RON 4.792204
RSD 105.604038
RUB 81.998878
RWF 1475.916015
SAR 3.754695
SBD 8.051718
SCR 14.018084
SDG 601.503676
SEK 9.89954
SGD 1.283215
SHP 0.745545
SLE 22.910371
SLL 20969.504398
SOS 571.503662
SRD 37.583504
STD 20697.981008
STN 21.925605
SVC 8.748764
SYP 13001.999685
SZL 16.560369
THB 33.568038
TJS 9.224126
TMT 3.51
TND 2.985504
TOP 2.40776
TRY 50.154604
TTD 6.780829
TWD 32.807404
TZS 2642.503628
UAH 45.297
UGX 4089.81484
UYU 40.226773
UZS 11931.108854
VES 893.769038
VND 25582.5
VUV 119.513361
WST 2.778515
XAF 588.793837
XAG 0.019249
XAU 0.00024594347
XCD 2.70255
XCG 1.801976
XDR 0.707052
XOF 588.793837
XPF 106.728476
YER 236.175037
ZAR 16.55565
ZMK 9001.203584
ZMW 20.318702
ZWL 321.999592
SSP 5745.196153
MXV 2.096865
  • RYCEF

    0.4000

    19.71

    +2.03%

  • CMSC

    0.0000

    20.4

    0%

  • BTI

    0.4200

    56.05

    +0.75%

  • BP

    0.2800

    44.43

    +0.63%

  • RBGPF

    1.6000

    67

    +2.39%

  • RIO

    -0.1500

    94.41

    -0.16%

  • AZN

    -0.4300

    166.15

    -0.26%

  • GSK

    0.4600

    49.7

    +0.93%

  • BCE

    -0.4100

    20.56

    -1.99%

  • NGG

    -0.2500

    75.24

    -0.33%

  • VOD

    -0.0400

    16.58

    -0.24%

  • RELX

    -0.4500

    33.07

    -1.36%

  • BCC

    -0.5500

    76.59

    -0.72%

  • CMSD

    -0.0300

    20.27

    -0.15%

  • JRI

    -0.2500

    10.77

    -2.32%

EU strikes 50-bn-euro Ukraine aid deal
EU strikes 50-bn-euro Ukraine aid deal / Photo: © AFP

EU strikes 50-bn-euro Ukraine aid deal

EU leaders on Thursday struck a deal with Viktor Orban to get 50 billion euros in financial aid to Ukraine, overcoming the Hungarian leader's veto with surprising speed at a crunch summit in Brussels.

Text size:

"All 27 leaders agreed on an additional €50 billion support package for Ukraine within the EU budget," European Council president Charles Michel, who chairs the summit, wrote on X, formerly Twitter.

"This locks in steadfast, long-term, predictable funding for Ukraine."

The abrupt about-face from Orban on the vitally needed four-year funding package for Kyiv came as after EU leaders offered a possible review of the spending in two years.

"EU Member States one more time show their solidarity and unity in the actions to Ukrainian people to withstand the war," wrote Ukraine's Prime Minister Denis Shmygal.

"Each of your votes is a significant contribution to our joint victory."

As doubts swirl over future support from Ukraine's other major ally the United States, the EU deal is a major boost for Kyiv as Russia's war nears the start of its third year.

The money will plug holes in the Ukrainian government's budget to allow it to pay salaries and services, as its outgunned soldiers battle to hold back Moscow's forces.

Orban -- Russia's closest ally in the EU -- sparked fury from his 26 counterparts in the bloc by thwarting a December deal on the aid.

The Hungarian nationalist was accused of holding Ukraine's future hostage in a bid to blackmail Brussels into releasing billions of euros in frozen EU funds for Budapest.

- 'Orban fatigue' -

The second round in Brussels on Thursday was expected to see hours of protracted political arm-wrestling but a deal was announced swiftly after Orban met first with the leaders of Germany, France, Italy and the EU institutions.

That came after a stream of other EU leaders had piled into Orban for once-again disrupting the bloc.

"We don't have a problem with so-called Ukraine fatigue for sure, we have Orban fatigue now in Brussels," said Polish Prime Minister Donald Tusk.

"It's for Viktor Orban to decide if he is a part of our community.

The other leaders had said if Orban did not drop his opposition,they would club together as 26 to keep aid flowing for Ukraine's government.

But with Kyiv facing possible budget shortfalls by spring, that option would have taken more time.

Mounting frustration at Hungary's role as spoiler also seen calls grow for other leaders to unleash the EU's Article 7 and strip Budapest of its voting rights.

That would take unanimity from all other 26 leaders and few have been willing to push publicly for this "nuclear option" just yet.

The latest EU showdown took place against the backdrop of swelling protests by European farmers, who clogged roads around the summit with 1,300 tractors in a show of strength, lighting fires and pulling down a city statue.

- 'Blackmail' -

The major leverage for Brussels over Hungary is around 20 billion euros ($21.7 billion) in frozen EU funds that it refuses to give Budapest because of its poor record on issues including corruption and LGBTQ rights.

In December, Orban allowed through a decision to open membership talks with Kyiv a day after getting a separate 10 billion euros released from Brussels.

And there were strong suspicions that he was playing the same game of chicken again to try to get more money, even if Brussels insisted the two issues were not linked.

 

The latest EU showdown took place against the backdrop of swelling protests by European farmers, who clogged roads around the summit with 1,300 tractors in a show of strength, lighting fires and pulling down a city statue.

"We need to be able to discuss in the council on this topic because the concerns that they have are partly legitimate," said Belgium's Prime Minister Alexander De Croo.

V.Fan--ThChM