Council of the European Union

By the end of February, the EU may vote to allocate 50 billion euros to Ukraine, allowing the country to receive the first tranche of aid of 1. 5 billion euros in March.

The €50 billion aid program for Ukraine approved by EU leaders includes €33 billion in loans and €17 billion in grants, and sets out the prerequisites for receiving the funds and possible revisions to the program.

The EU will make every effort to speed up the delivery of ammunition to Ukraine by the end of the year, European Council President Charles Michel said.

The Belgian prime minister expressed confidence that EU leaders will be able to reach an agreement on financial assistance to Ukraine at their summit.

The European Commission's proposal to extend the 'economic visa-free regime' for Ukraine will help lift the bans on agricultural imports imposed by Poland, Slovakia and Hungary, Ukrainian Prime Minister Denys Shmyhal said.

EU ambassadors have agreed to use the proceeds of frozen Russian assets to help rebuild Ukraine. This was reported by Belgium, which holds the presidency of the EU Council.

The European Council has extended economic sanctions against Russia for another 6 months until July 31, 2024 in response to Russia's actions to destabilize the situation in Ukraine. The sanctions, first introduced in 2014, have been significantly expanded since February 2022 and include restrictions on trade, finance, technology, industry, transportation and luxury goods.

The EU denies reports that it plans to impose financial sanctions on Hungary to force it to agree to fund aid to Ukraine.