European leaders will try again on 1 February to reach agreement on the continuation of EU financial support to Ukraine, European Council President Charles Michel said on Monday after a meeting with Belgian Prime Minister Alexander De Croo.
Michel said a special summit would be held to address financial issues. He emphasised that the aim of the summit would be to persuade Hungary to sign on to an otherwise unanimous agreement so that the EU can uphold its commitments to Ukraine.
Hungary’s Prime Minister, Viktor Orban, was the lone objector to a proposal from the European Commission, presented at last week’s European summit. The proposal suggested granting Ukraine up to €17 billion in subsidies and €33 billion in loans to keep its state apparatus afloat.
These discussions are part of a broader review of Europe’s multi-year budget, which requires unanimous decision.
Some heads of government hinted last week at bypassing Hungary’s veto and seeking a solution for Ukraine with the other 26 Member States.
However, both Michel and De Croo stressed that the objective remains to reach agreement with all Member States.
