European Council

The Chairman of the Verkhovna Rada, Ruslan Stefanchuk, met with the Vice President of the European Commission, Josep Borrell, to discuss further military assistance to Ukraine, the implementation of the peace formula, EU security guarantees, sanctions against Russia and the confiscation of Russian assets.

By October 2024, the Czech government will request the opinion of the National Economic Council on the feasibility of joining the European Exchange Rate Mechanism (ERM II) as a prerequisite for the introduction of the euro.

Ukraine's First Deputy Minister of Defense held an online meeting with international partners to discuss improving Ukraine's military command structure and implementing Euro-Atlantic principles and practices, as well as coordinating responses to future security threats.

The President of the European Council called on the U. S. House of Representatives to urgently approve $60 billion in aid for Ukraine's financial stability and emphasized that assistance to Ukraine supports European security.

The European Parliament and the Council of the EU have agreed to establish a €50 billion Ukraine Fund over the next four years to support Ukraine's recovery, reconstruction and modernization efforts.

EU chief of diplomacy calls on allies to increase military spending to support Ukraine.

Ukraine avoided the risk of an annual veto on the allocation of financial support from the EU.

The EU has doubled its budgetary support for Ukraine to €50 billion since Russia's full-scale invasion began on February 24, 2022, Ukrainian Foreign Minister Dmytro Kuleba reports.

President Zelenskyy said that the EU's decision to allocate 50 billion euros to Ukraine is a clear signal to Moscow that Europe stands united, but also that Ukraine expects decisions from America on security commitments.

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.

President Zelenskyy called on European politicians to unite in creating a separate Fund to help Ukraine - at least €5 billion a year for four years - to counter Russian aggression.

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.

Zelenskyy called on European leaders to join Ukraine in preparing for the Global Peace Summit to discuss peace.

President Zelenskyy thanked EU leaders for unanimously allocating €50 billion in aid to Ukraine over four years, saying it demonstrates Europe's strong unity and support. He emphasized that this decision was made unanimously by all 27 member states

European leaders consider the concessions insignificant, as they avoided a scenario in which Orban would be able to veto funding for Ukraine every year.

According to Ukraine's Foreign Minister, the allocation of 50 billion euros to Ukraine for 2024-2027 demonstrates Kyiv's continued support. In addition, it destroys statements about international partners' fatigue with the war.

President of Ukraine Volodymyr Zelenskyy emphasizes that a €50 billion aid package will strengthen Ukraine's long-term economic and financial stability, which is no less important than military aid and sanctions pressure on russia.

The EU has agreed that the European Council may propose to the European Commission to review the €50 billion support program for Ukraine in two years, if necessary.

Ukraine is advancing its climate policy by drafting a law on greenhouse gas emission quotas, which is key to EU integration, and planning the full launch of an ETS by 2026.

Ukraine welcomes EU leaders' approval of a €50 billion aid package over four years to help finance Ukraine's budget deficit.

This week, the European Commission will start informal meetings to discuss the 13th package of sanctions against russia in response to its invasion of Ukraine. The proposals are expected to focus on closing loopholes in existing sanctions.

EU leaders are gathering for an emergency summit where they are expected to confront Hungarian Prime Minister Viktor Orban over his refusal to authorize a new €50 billion aid package for Ukraine, with efforts to persuade Orban doubling in the last 24 hours but failing as Hungary has demanded an annual veto on the funding, The Guardian reports.

Zelensky said that further consolidation would be important to prepare for the upcoming European Council meeting at the level of leaders and to identify priorities for the rest of the year that Ukraine and Europe need.

EU leaders will propose holding annual debates on the planned €50 billion aid package for Ukraine to overcome Hungary's opposition to the funding.

At a summit on February 1, EU leaders will reaffirm their commitment to continue providing military support to Ukraine and emphasize the urgent need to speed up the supply of ammunition and missiles, according to a draft document obtained by Reuters.

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.

Ukraine and Lithuania are identifying joint steps to increase the production of drones for the needs of the Ukrainian Armed Forces. The two countries plan to combine Lithuanian drone production technologies with Ukraine's ability to scale up production.